International Assets Investment Management LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

International Assets Investment Management LLC lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 734.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 891,403 shares of the pipeline company’s stock after acquiring an additional 784,535 shares during the period. International Assets Investment Management LLC’s holdings in Enbridge were worth $36,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. M&G Plc purchased a new position in Enbridge during the first quarter worth about $152,843,000. Cibc World Market Inc. lifted its holdings in Enbridge by 12.8% in the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after acquiring an additional 3,693,495 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock valued at $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. National Bank of Canada FI grew its position in Enbridge by 11.3% in the first quarter. National Bank of Canada FI now owns 21,664,748 shares of the pipeline company’s stock worth $818,370,000 after acquiring an additional 2,203,123 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Enbridge by 3.9% during the first quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after acquiring an additional 1,360,439 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ENB shares. Morgan Stanley started coverage on Enbridge in a research note on Friday. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Down 0.2 %

Shares of NYSE ENB opened at $40.88 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $40.63 and its two-hundred day moving average is $37.81. Enbridge Inc. has a 52-week low of $31.47 and a 52-week high of $42.16. The firm has a market cap of $87.22 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. Research analysts predict that Enbridge Inc. will post 2.08 EPS for the current year.

Enbridge Company Profile

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.