Canada Pension Plan Investment Board Has $289.04 Million Stake in Enbridge Inc. (NYSE:ENB)

Canada Pension Plan Investment Board lifted its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,818,919 shares of the pipeline company's stock after acquiring an additional 1,135,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.31% of Enbridge worth $289,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ENB. apricus wealth LLC grew its stake in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock valued at $875,000 after buying an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. lifted its position in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after purchasing an additional 230 shares during the period. Wintrust Investments LLC raised its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after buying an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its position in Enbridge by 10.6% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after purchasing an additional 240 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Enbridge Trading Down 0.7 %

Enbridge stock traded down $0.30 during trading hours on Monday, reaching $45.07. 949,164 shares of the company's stock traded hands, compared to its average volume of 4,352,557. The firm's 50 day moving average is $43.15 and its 200-day moving average is $42.81. Enbridge Inc. has a fifty-two week low of $34.60 and a fifty-two week high of $46.12. The firm has a market capitalization of $98.21 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 3.92 and a beta of 0.80. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued 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 business had revenue of $11.59 billion during 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 firm earned $0.64 EPS. On average, 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.