MADDEN SECURITIES Corp purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,577 shares of the pipeline company’s stock, valued at approximately $991,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital International Investors increased its holdings in shares of Enbridge by 22.0% during the 1st quarter. Capital International Investors now owns 155,763,559 shares of the pipeline company’s stock valued at $4,533,297,000 after purchasing an additional 28,059,331 shares in the last quarter. Norges Bank acquired a new position in shares of Enbridge during the 4th quarter valued at about $745,793,000. Capital Research Global Investors raised its holdings in Enbridge by 746.5% in the 4th quarter. Capital Research Global Investors now owns 20,004,472 shares of the pipeline company’s stock valued at $795,378,000 after buying an additional 17,641,163 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Enbridge by 55.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,899,972 shares of the pipeline company’s stock valued at $869,790,000 after buying an additional 10,695,387 shares during the period. Finally, AGF Investments Inc. increased its stake in Enbridge by 298.8% during the first quarter. AGF Investments Inc. now owns 3,788,345 shares of the pipeline company’s stock worth $110,311,000 after purchasing an additional 2,838,416 shares during the period. 54.64% of the stock is owned by institutional investors.

ENB has been the subject of a number of research analyst reports. Barclays raised Enbridge to a “buy” rating and set a $49.00 price target for the company in a report on Wednesday, March 25th. Wells Fargo & Co restated a “buy” rating on shares of Enbridge in a research report on Tuesday, April 14th. JPMorgan Chase & Co. raised Enbridge from a “neutral” rating to an “overweight” rating and set a $56.00 price target on the stock in a research note on Wednesday, April 8th. Industrial Alliance Securities assumed coverage on Enbridge in a research note on Wednesday, April 1st. They issued a “buy” rating and a $55.00 price objective on the stock. Finally, CIBC dropped their target price on Enbridge from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. Enbridge presently has an average rating of “Buy” and a consensus target price of $52.00.

Enbridge stock traded up $0.89 during mid-day trading on Tuesday, hitting $30.59. 2,856,957 shares of the company’s stock were exchanged, compared to its average volume of 4,854,332. The company’s 50 day simple moving average is $31.29 and its 200-day simple moving average is $34.03. Enbridge Inc has a fifty-two week low of $22.57 and a fifty-two week high of $43.15. The firm has a market capitalization of $60.15 billion, a P/E ratio of 40.16, a PEG ratio of 1.60 and a beta of 0.83. The company has a quick ratio of 0.53, a current ratio of 0.58 and a debt-to-equity ratio of 0.98.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.32. Enbridge had a return on equity of 8.84% and a net margin of 4.88%. The business had revenue of $8.96 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same quarter last year, the company posted $0.81 earnings per share. Research analysts expect that Enbridge Inc will post 1.91 EPS for the current year.

Enbridge Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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