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

Mufg Securities Canada LTD. boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 72.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,325,954 shares of the pipeline company’s stock after buying an additional 1,393,449 shares during the quarter. Enbridge comprises 5.1% of Mufg Securities Canada LTD.’s portfolio, making the stock its 6th biggest holding. Mufg Securities Canada LTD. owned 0.15% of Enbridge worth $141,070,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. McIlrath & Eck LLC boosted its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the period. Albion Financial Group UT bought a new stake in Enbridge during the fourth quarter valued at about $29,000. Wintrust Investments LLC boosted its holdings in Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its stake in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Enbridge during the 4th quarter worth about $42,000. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada boosted their target price 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, TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $44.44 on Wednesday. The firm has a market capitalization of $96.84 billion, a PE ratio of 25.84, a PEG ratio of 3.92 and a beta of 0.95. 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. The business’s 50 day moving average is $43.48 and its 200-day moving average is $42.42.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.14 earnings per share 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.