Mitsubishi UFJ Trust & Banking Corp Acquires 17,700 Shares of Enbridge Inc. (NYSE:ENB)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 49.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,431 shares of the pipeline company's stock after purchasing an additional 17,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Enbridge were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ENB. Raymond James Financial Inc. acquired a new stake in Enbridge during the 4th quarter worth $180,941,000. Vanguard Group Inc. increased its holdings in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. National Bank of Canada FI lifted its stake in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock valued at $737,754,000 after buying an additional 2,061,758 shares during the period. GQG Partners LLC boosted its holdings in Enbridge by 2.1% during the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after buying an additional 1,495,742 shares during the last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in shares of Enbridge by 1,131.1% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,545,283 shares of the pipeline company's stock valued at $65,514,000 after acquiring an additional 1,419,766 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

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Enbridge Stock Down 3.9 %

Shares of ENB stock traded down $1.75 during trading hours on Friday, hitting $43.59. 1,753,284 shares of the company were exchanged, compared to its average volume of 4,389,550. The company has a market capitalization of $94.99 billion, a PE ratio of 25.45, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 52 week low of $32.86 and a 52 week high of $46.12. The business has a 50 day moving average of $43.49 and a two-hundred day moving average of $42.59. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results 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 firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter last year, the business posted $0.64 EPS. Analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ENB has been the topic of several recent analyst reports. Citigroup started coverage on shares of Enbridge in a research note on Friday. They set a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, 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. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

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.