Old Port Advisors Acquires 2,114 Shares of Enbridge Inc. (NYSE:ENB)

Old Port Advisors increased its holdings in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 6.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 36,124 shares of the pipeline company’s stock after buying an additional 2,114 shares during the quarter. Old Port Advisors’ holdings in Enbridge were worth $1,412,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Enbridge by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 73,349,925 shares of the pipeline company’s stock worth $2,721,283,000 after buying an additional 2,489,930 shares in the last quarter. GQG Partners LLC increased its holdings in Enbridge by 9.0% in the 2nd quarter. GQG Partners LLC now owns 51,856,121 shares of the pipeline company’s stock worth $2,186,048,000 after buying an additional 4,276,415 shares in the last quarter. TD Asset Management Inc. increased its holdings in Enbridge by 2.6% in the 3rd quarter. TD Asset Management Inc. now owns 29,260,303 shares of the pipeline company’s stock worth $1,102,609,000 after buying an additional 733,921 shares in the last quarter. Legal & General Group Plc boosted its position in Enbridge by 7.8% in the second quarter. Legal & General Group Plc now owns 20,559,625 shares of the pipeline company’s stock worth $861,277,000 after purchasing an additional 1,486,400 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Enbridge by 3.6% in the third quarter. The Manufacturers Life Insurance Company now owns 20,227,562 shares of the pipeline company’s stock worth $757,122,000 after purchasing an additional 693,533 shares during the last quarter. 49.25% of the stock is currently owned by institutional investors.

Enbridge Stock Down 1.2 %

ENB stock opened at $36.56 on Friday. Enbridge Inc. has a twelve month low of $35.02 and a twelve month high of $47.67. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 1.29. The stock has a market cap of $74.03 billion, a P/E ratio of 36.20, a PEG ratio of 2.72 and a beta of 0.83. The business’s 50-day moving average price is $39.64 and its 200-day moving average price is $39.53.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. StockNews.com initiated coverage on Enbridge in a research report on Thursday. They issued a “hold” rating on the stock. BMO Capital Markets cut Enbridge from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 24th. Credit Suisse Group cut Enbridge from a “neutral” rating to an “underperform” rating in a research report on Wednesday, February 8th. Finally, National Bank Financial raised their target price on Enbridge from C$54.00 to C$56.00 in a research report on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average target price of $59.00.

About Enbridge

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Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.