Davis Rea LTD. Boosts Stock Position in Enbridge Inc (NYSE:ENB)

Davis Rea LTD. boosted its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1,955.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 109,000 shares of the pipeline company's stock after acquiring an additional 103,698 shares during the period. Enbridge accounts for approximately 1.3% of Davis Rea LTD.'s portfolio, making the stock its 27th largest holding. Davis Rea LTD.'s holdings in Enbridge were worth $4,825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Enbridge by 6.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company's stock valued at $19,431,000 after buying an additional 25,071 shares during the period. Greenland Capital Management LP boosted its stake in shares of Enbridge by 189.1% during the fourth quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company's stock valued at $1,502,000 after purchasing an additional 23,160 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Enbridge by 20.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock valued at $289,044,000 after purchasing an additional 1,135,000 shares during the period. Scotia Capital Inc. lifted its stake in Enbridge by 1.4% in the fourth quarter. Scotia Capital Inc. now owns 14,500,982 shares of the pipeline company's stock worth $614,763,000 after acquiring an additional 193,463 shares during the period. Finally, Hartline Investment Corp lifted its stake in Enbridge by 31.3% in the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company's stock worth $1,600,000 after acquiring an additional 8,610 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Finally, Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.47 during trading on Friday, hitting $45.00. 4,603,612 shares of the company's stock traded hands, compared to its average volume of 3,833,071. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. Enbridge Inc has a 1 year low of $36.38 and a 1 year high of $47.44. The stock has a market capitalization of $98.11 billion, a P/E ratio of 23.19, a PEG ratio of 4.25 and a beta of 0.79. The business has a 50-day simple moving average of $45.41 and a 200-day simple moving average of $44.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same period last year, the firm posted $0.92 earnings per share. As a group, analysts forecast that Enbridge Inc will post 2.14 EPS 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.