Enbridge Inc. (NYSE:ENB) Holdings Lifted by Bank of Nova Scotia Trust Co.

Bank of Nova Scotia Trust Co. grew its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 963,537 shares of the pipeline company’s stock after buying an additional 7,405 shares during the quarter. Enbridge accounts for approximately 4.3% of Bank of Nova Scotia Trust Co.’s investment portfolio, making the stock its 4th biggest holding. Bank of Nova Scotia Trust Co.’s holdings in Enbridge were worth $40,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Enbridge during the fourth quarter worth $909,415,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Enbridge by 396.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after purchasing an additional 9,621,425 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Enbridge in the 4th quarter worth about $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 worth $3,888,507,000 after buying an additional 3,611,421 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Enbridge by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company’s stock worth $571,389,000 after acquiring an additional 3,091,442 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the subject of several research analyst reports. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating for the company. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating for the company. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Stock Up 1.7 %

Enbridge stock opened at $45.32 on Friday. The firm has a market capitalization of $98.76 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 3.92 and a beta of 0.80. The firm has a 50 day simple moving average of $43.15 and a 200 day simple moving average of $42.78. Enbridge Inc. has a 1-year low of $33.92 and a 1-year high of $46.12. 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 (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the company posted $0.64 EPS. On average, analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge 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.