Raymond James Financial Inc. Takes $180.94 Million Position in Enbridge Inc. (NYSE:ENB)

Raymond James Financial Inc. acquired a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,264,463 shares of the pipeline company's stock, valued at approximately $180,941,000. Raymond James Financial Inc. owned approximately 0.20% of Enbridge at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Enbridge by 1,514.7% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock valued at $194,938,000 after purchasing an additional 4,502,115 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock valued at $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company's stock valued at $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company's stock valued at $168,258,000 after purchasing an additional 1,472,789 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Enbridge by 44.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company's stock valued at $156,098,000 after purchasing an additional 1,183,821 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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Enbridge Stock Up 1.0 %

ENB stock traded up $0.40 during midday trading on Friday, hitting $42.00. 3,144,296 shares of the company's stock were exchanged, compared to its average volume of 4,411,846. 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 Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The firm has a 50 day moving average price of $43.45 and a 200-day moving average price of $42.08. The stock has a market capitalization of $91.51 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business earned $0.64 EPS. On average, analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ENB. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $67.00.

About Enbridge

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.