Enbridge Inc. (NYSE:ENB) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 49.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,431 shares of the pipeline company’s stock after buying 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 SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC increased its holdings 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 acquiring an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $29,000. Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Enbridge by 149.9% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. bought a new position in Enbridge in the 4th quarter worth approximately $42,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.5 %

Shares of Enbridge stock opened at $44.23 on Tuesday. The business has a fifty day simple moving average of $43.49 and a 200-day simple moving average of $42.53. Enbridge Inc. has a fifty-two week low of $32.86 and a fifty-two week high of $45.78. The firm has a market cap of $96.37 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth 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) (TSE:ENB) last issued 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 company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the company earned $0.64 EPS. On average, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on ENB. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus price target 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.