Enbridge Inc. (NYSE:ENB) Position Lifted by Scheer Rowlett & Associates Investment Management Ltd.

Scheer Rowlett & Associates Investment Management Ltd. lifted its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 857,666 shares of the pipeline company's stock after buying an additional 19,353 shares during the period. Enbridge accounts for approximately 2.7% of Scheer Rowlett & Associates Investment Management Ltd.'s portfolio, making the stock its 18th largest holding. Scheer Rowlett & Associates Investment Management Ltd.'s holdings in Enbridge were worth $36,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its position in Enbridge by 12.7% during the third quarter. Farther Finance Advisors LLC now owns 10,566 shares of the pipeline company's stock worth $429,000 after purchasing an additional 1,193 shares during the last quarter. Advisor Resource Council acquired a new position in Enbridge during the third quarter worth approximately $233,000. Portside Wealth Group LLC increased its position in Enbridge by 4.9% during the third quarter. Portside Wealth Group LLC now owns 30,178 shares of the pipeline company's stock worth $1,226,000 after purchasing an additional 1,423 shares during the last quarter. Lewis Asset Management LLC increased its position in Enbridge by 4.9% during the third quarter. Lewis Asset Management LLC now owns 12,761 shares of the pipeline company's stock worth $518,000 after purchasing an additional 600 shares during the last quarter. Finally, Leavell Investment Management Inc. increased its position in Enbridge by 1.7% during the third quarter. Leavell Investment Management Inc. now owns 24,087 shares of the pipeline company's stock worth $978,000 after purchasing an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ENB shares. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. TD Securities started coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a "buy" rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $67.00.

Enbridge Trading Up 1.0 %

Shares of Enbridge stock traded up $0.40 during trading hours on Friday, hitting $42.00. The company's stock had a trading volume of 3,144,296 shares, compared to its average volume of 4,411,846. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The business has a fifty day moving average of $43.45 and a 200 day moving average of $42.13. The company has a market capitalization of $91.51 billion, a PE ratio of 24.42, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 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 for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the business earned $0.64 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

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.