Taylor Hoffman Wealth Management bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,584 shares of the pipeline company’s stock, valued at approximately $140,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Enbridge by 0.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,491,107 shares of the pipeline company’s stock valued at $1,945,188,000 after purchasing an additional 279,597 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Enbridge by 3.4% in the 3rd quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock valued at $1,871,055,000 after purchasing an additional 1,495,767 shares in the last quarter. Capital International Investors raised its position in shares of Enbridge by 7.8% in the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock valued at $1,721,048,000 after purchasing an additional 2,984,467 shares in the last quarter. Jarislowsky Fraser Ltd raised its position in shares of Enbridge by 1.1% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 22,487,721 shares of the pipeline company’s stock valued at $937,167,000 after purchasing an additional 254,158 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Enbridge by 11.5% in the 4th quarter. CIBC Asset Management Inc now owns 21,964,753 shares of the pipeline company’s stock valued at $862,620,000 after purchasing an additional 2,260,733 shares in the last quarter. 62.62% of the stock is currently owned by institutional investors.
Shares of Enbridge Inc (NYSE:ENB) opened at $34.27 on Friday. Enbridge Inc has a twelve month low of $33.26 and a twelve month high of $42.92. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50. The firm has a market capitalization of $57,990.00, a P/E ratio of 21.97, a PEG ratio of 3.06 and a beta of 0.56.
ENB has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. Bank of America assumed coverage on Enbridge in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Morgan Stanley lowered their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $54.00 price target on shares of Enbridge in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $51.25.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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