Bank of Nova Scotia Trust Co. Acquires 7,405 Shares of Enbridge Inc. (NYSE:ENB)

Bank of Nova Scotia Trust Co. boosted its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 963,537 shares of the pipeline company's stock after purchasing an additional 7,405 shares during the period. Enbridge comprises approximately 4.3% of Bank of Nova Scotia Trust Co.'s investment portfolio, making the stock its 4th biggest position. Bank of Nova Scotia Trust Co.'s holdings in Enbridge were worth $40,883,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Morse Asset Management Inc bought a new position in shares of Enbridge during the third quarter worth about $106,000. Barclays PLC raised its holdings in Enbridge by 8.3% during the 3rd quarter. Barclays PLC now owns 584,020 shares of the pipeline company's stock worth $23,717,000 after purchasing an additional 44,675 shares during the last quarter. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after purchasing an additional 295 shares during the period. Passumpsic Savings Bank boosted its stake in shares of Enbridge by 2.4% in the 3rd quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company's stock valued at $470,000 after purchasing an additional 276 shares during the last quarter. Finally, Anchor Investment Management LLC increased its position in shares of Enbridge by 0.5% during the third quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company's stock worth $4,996,000 after buying an additional 581 shares during the period. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of several recent analyst reports. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, CIBC restated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Trading Up 1.7 %

Shares of Enbridge stock opened at $45.32 on Friday. 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 Inc. has a 52 week low of $33.92 and a 52 week high of $46.12. The stock has a 50 day moving average price of $43.15 and a two-hundred day moving average price of $42.78. The stock has a market capitalization of $98.76 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm earned $0.64 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.

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