TD Asset Management Inc. Buys 1,040,799 Shares of Enbridge Inc. (NYSE:ENB)

TD Asset Management Inc. grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,752,759 shares of the pipeline company’s stock after acquiring an additional 1,040,799 shares during the period. Enbridge comprises approximately 1.5% of TD Asset Management Inc.’s investment portfolio, making the stock its 11th biggest holding. TD Asset Management Inc. owned approximately 1.78% of Enbridge worth $1,643,935,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the period. Raymond James Financial Inc. bought a new position in shares of Enbridge during the fourth quarter valued at approximately $180,941,000. Vanguard Group Inc. increased its holdings in Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after buying an additional 3,611,421 shares during the period. National Bank of Canada FI raised its stake in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares in the last quarter. Finally, GQG Partners LLC boosted its position in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock valued at $3,151,500,000 after acquiring an additional 1,495,742 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

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

Enbridge Trading Up 0.9 %

Shares of NYSE:ENB opened at $44.25 on Tuesday. The business’s 50-day moving average is $43.48 and its 200 day moving average is $42.39. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78. The firm has a market capitalization of $96.42 billion, a P/E ratio of 25.72, a P/E/G ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data 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. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the company posted $0.64 earnings per share. On average, research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.