Enbridge Energy - Buy Signals

Feb.24.11 | About: Enbridge Energy (EEP)

This morning I placed a buy order for Enbrigde Energy (NYSE:EEP) in the Barchart Van Meerten New High portfolio for technical factors.

[Click to enlarge]

Enbridge Energy Partners, L.P. owns the U.S. portion of the world's longest liquid petroleum pipeline. Enbridge Energy Company, Inc., an indirect wholly-owned subsidiary of Enbridge Inc. of Calgary, Alberta, holds an effective 14.5% interest in the Partnership.
Technical Factors:
  • 96% Barchart technical buy signal.
  • 19 new highs and up 7.83% in the last month.
  • Relative Strength Index 66.13% and rising.
  • Trades around 66.13 with a 50 day moving average of 62.20.
Fundamental Factors:
  • Wall Street brokerages have three buy and eight hold recommendations based on increases in sales, earnings and a 6.80% dividend.
  • Sales are expected to increase by 13.40% this year and 9.80% next year.
  • Earnings are expected to increase by 3.80% this year, 5.00% next year and 3.00% annually for the next five years.
Investor Sentiment:
  • On Motley Fool, the CAPS members vote 326 to 15 that the stock will beat the market.
  • All Stars agree, 134 to 4.
  • Fool notes the last five articles on the stock have been positive.
Disclosure: I am long EEP.