Enbridge Inc. (NYSE:ENB) Shares Purchased by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. increased its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 171,960 shares of the pipeline company's stock after purchasing an additional 6,101 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in Enbridge were worth $7,291,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. GQG Partners LLC grew its position in Enbridge by 2.1% in the fourth 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. TD Asset Management Inc. grew its position in Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock valued at $1,643,935,000 after acquiring an additional 1,040,799 shares in the last quarter. Deutsche Bank AG grew its position in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock valued at $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Finally, Norges Bank acquired a new stake in Enbridge in the fourth quarter valued at approximately $909,415,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ENB shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup started coverage on shares of Enbridge in a research report on Friday, April 4th. They issued a "buy" rating for the company. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $67.00.

Enbridge Stock Performance

Enbridge stock opened at $45.19 on Friday. The stock has a market cap of $98.52 billion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a 50 day moving average of $44.68 and a 200-day moving average of $43.56. Enbridge Inc. has a 52 week low of $34.60 and a 52 week high of $47.08.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. During the same period in the prior year, the business posted $0.92 EPS. On average, analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 6.01%. Enbridge's dividend payout ratio (DPR) is 139.69%.

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.

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