MML Investors Services LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 84.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,654 shares of the pipeline company’s stock after buying an additional 13,999 shares during the period. MML Investors Services LLC’s holdings in Enbridge were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Mackenzie Financial Corp increased its position in Enbridge by 791.4% during the 4th quarter. Mackenzie Financial Corp now owns 36,258,925 shares of the pipeline company’s stock worth $1,418,087,000 after purchasing an additional 32,191,347 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Enbridge by 122.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 18,522,957 shares of the pipeline company’s stock worth $724,433,000 after acquiring an additional 10,214,307 shares in the last quarter. Capital International Investors boosted its stake in shares of Enbridge by 7.8% during the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock worth $1,721,048,000 after acquiring an additional 2,984,467 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Enbridge by 11.5% during the 4th quarter. CIBC Asset Management Inc now owns 21,964,753 shares of the pipeline company’s stock worth $862,620,000 after acquiring an additional 2,260,733 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its stake in shares of Enbridge by 38.5% during the 4th quarter. Burgundy Asset Management Ltd. now owns 7,072,370 shares of the pipeline company’s stock worth $277,144,000 after acquiring an additional 1,964,276 shares in the last quarter. Institutional investors own 65.08% of the company’s stock.
Enbridge Inc (NYSE ENB) opened at $32.66 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $54,263.03, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.32 and a beta of 0.66. Enbridge Inc has a twelve month low of $31.19 and a twelve month high of $42.92.
Several equities research analysts have recently commented on the company. Canaccord Genuity reissued a “buy” rating and set a $54.00 price target on shares of Enbridge in a research note on Thursday, November 30th. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Morgan Stanley decreased their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, November 17th. Finally, Bank of America began coverage on Enbridge in a research note on Tuesday, January 9th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Enbridge has a consensus rating of “Hold” and a consensus target price of $51.25.
In other Enbridge news, Director Michael E. J. Phelps sold 18,054 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total value of $613,836.00. Following the completion of the transaction, the director now directly owns 56,245 shares in the company, valued at approximately $1,912,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
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Enbridge Company Profile
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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