Enbridge Inc. (NYSE:ENB) Shares Purchased by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 72.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,325,954 shares of the pipeline company’s stock after purchasing an additional 1,393,449 shares during the quarter. Enbridge accounts for approximately 5.1% of Mufg Securities Canada LTD.’s holdings, making the stock its 6th biggest holding. Mufg Securities Canada LTD.’s holdings in Enbridge were worth $141,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ENB. Thrivent Financial for Lutherans lifted its position in shares of Enbridge by 23.4% during the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock worth $1,895,000 after purchasing an additional 8,848 shares in the last quarter. Great Valley Advisor Group Inc. lifted its holdings in Enbridge by 19.6% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 20,161 shares of the pipeline company’s stock worth $818,000 after buying an additional 3,311 shares in the last quarter. Cerity Partners LLC boosted its position in Enbridge by 6.8% in the 3rd quarter. Cerity Partners LLC now owns 190,814 shares of the pipeline company’s stock valued at $7,749,000 after buying an additional 12,154 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Enbridge by 57.9% in the 3rd quarter. Larson Financial Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $218,000 after buying an additional 1,965 shares during the period. Finally, Centaurus Financial Inc. raised its position in shares of Enbridge by 1.7% during the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after acquiring an additional 256 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ENB shares. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

Enbridge stock opened at $44.44 on Wednesday. The firm has a market capitalization of $96.84 billion, a P/E ratio of 25.84, a PEG ratio of 3.92 and a beta of 0.95. The business has a 50-day moving average of $43.48 and a 200-day moving average of $42.42. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.