BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Takes $225.06 Million Position in Enbridge Inc (ENB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,649,910 shares of the pipeline company’s stock, valued at approximately $225,056,000. Enbridge accounts for about 1.8% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s portfolio, making the stock its 5th biggest position.

A number of other hedge funds have also made changes to their positions in ENB. Vanguard Group Inc raised its holdings in Enbridge by 2.5% in the third quarter. Vanguard Group Inc now owns 48,626,327 shares of the pipeline company’s stock worth $1,570,144,000 after purchasing an additional 1,184,467 shares in the last quarter. TD Asset Management Inc. raised its holdings in Enbridge by 3.7% in the first quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock worth $1,688,151,000 after purchasing an additional 1,648,741 shares in the last quarter. Jarislowsky Fraser Ltd raised its holdings in Enbridge by 0.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 24,607,599 shares of the pipeline company’s stock worth $764,101,000 after purchasing an additional 131,550 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Enbridge by 4.1% in the first quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock worth $820,833,000 after purchasing an additional 895,305 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Enbridge by 13.6% in the fourth quarter. Mackenzie Financial Corp now owns 21,632,644 shares of the pipeline company’s stock worth $672,343,000 after purchasing an additional 2,584,814 shares in the last quarter. 56.95% of the stock is owned by institutional investors.

Shares of NYSE:ENB opened at $37.35 on Tuesday. Enbridge Inc has a 1-year low of $28.82 and a 1-year high of $37.96. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 0.92. The firm has a market cap of $75.95 billion, a PE ratio of 18.22, a P/E/G ratio of 2.40 and a beta of 0.69.



Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.09. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. The firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period last year, the company earned $0.82 earnings per share. On average, sell-side analysts predict that Enbridge Inc will post 1.85 EPS for the current fiscal year.

In related news, insider William T. Yardley sold 14,900 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total transaction of $551,002.00. Following the sale, the insider now directly owns 94,770 shares of the company’s stock, valued at $3,504,594.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Allen C. Capps sold 6,514 shares of the stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $37.02, for a total value of $241,148.28. Following the sale, the insider now directly owns 3,437 shares in the company, valued at $127,237.74. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

ENB has been the subject of several analyst reports. ValuEngine upgraded Enbridge from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Wells Fargo & Co restated a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, February 14th. Bank of America restated a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. Finally, Industrial Alliance Securities restated a “buy” rating on shares of Enbridge in a report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $46.46.

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About Enbridge

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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