Scotia Capital Inc. Grows Holdings in Enbridge Inc. (NYSE:ENB)

Scotia Capital Inc. lifted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,500,982 shares of the pipeline company's stock after purchasing an additional 193,463 shares during the quarter. Enbridge accounts for 3.2% of Scotia Capital Inc.'s investment portfolio, making the stock its 5th largest holding. Scotia Capital Inc. owned 0.67% of Enbridge worth $614,763,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ENB. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter valued at about $29,000. Wintrust Investments LLC increased its holdings in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in Enbridge during the fourth quarter worth $42,000. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ENB. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They issued a "buy" rating on the stock. CIBC reiterated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Price Performance

ENB traded up $0.29 during midday trading on Monday, hitting $43.53. The stock had a trading volume of 1,466,418 shares, compared to its average volume of 4,433,519. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $46.12. The company has a market cap of $94.86 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. The business has a fifty day moving average of $43.14 and a 200 day moving average of $42.67. 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 (NYSE:ENB - Get Free Report) TSE: ENB last posted 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. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal 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.