Enbridge Inc (NYSE:ENB) Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its stake in Enbridge Inc by 1.3% in Q1, now owning approximately 39.3 million shares worth $1.74 billion.
• Institutional investors hold 54.60% of Enbridge's stock, with significant increases from several hedge funds in the last quarter.
• Wall Street analysts are optimistic, with five buy ratings and an average price target of $67.00 for Enbridge shares, which currently trade around $45.00.

TD Asset Management Inc boosted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,265,817 shares of the pipeline company's stock after purchasing an additional 513,058 shares during the quarter. Enbridge comprises approximately 1.6% of TD Asset Management Inc's investment portfolio, making the stock its 8th largest holding. TD Asset Management Inc owned about 1.80% of Enbridge worth $1,737,602,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ENB. Norges Bank purchased a new position in Enbridge during the 4th quarter worth $909,415,000. Arrowstreet Capital Limited Partnership boosted its holdings in 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 acquiring an additional 9,621,425 shares during the last quarter. Blackstone Inc. boosted its holdings in Enbridge by 650.7% during the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock worth $242,619,000 after acquiring an additional 4,956,379 shares during the last quarter. Deutsche Bank AG boosted its holdings in Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Enbridge by 30.5% during the 4th quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock worth $571,389,000 after purchasing an additional 3,091,442 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ENB shares. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Down 1.0%

ENB stock opened at $45.00 on Friday. Enbridge Inc has a twelve month low of $36.38 and a twelve month high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. The stock has a market cap 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's 50-day moving average price is $45.41 and its 200-day moving average price is $44.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same period in the previous year, the firm earned $0.92 EPS. On average, equities research analysts forecast that Enbridge Inc will post 2.14 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.