Enbridge Inc $ENB Shares Newly Bought by Heathbridge Capital Management Ltd.

Heathbridge Capital Management Ltd. acquired a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 20,300 shares of the pipeline company’s stock, valued at approximately $943,000. Enbridge makes up 0.3% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 22nd biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ENB. Deutsche Bank AG acquired a new stake in Enbridge in the second quarter worth about $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Enbridge by 18.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock worth $1,117,353,000 after purchasing an additional 3,205,322 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Enbridge by 1.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 16,456,664 shares of the pipeline company’s stock worth $760,553,000 after purchasing an additional 266,866 shares in the last quarter. Amundi boosted its stake in Enbridge by 8.5% in the 2nd quarter. Amundi now owns 11,948,497 shares of the pipeline company’s stock worth $647,728,000 after purchasing an additional 936,435 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Enbridge by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock worth $599,709,000 after purchasing an additional 268,800 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ENB. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Enbridge in a report on Thursday, October 22nd. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. TD Securities reaffirmed a “buy” rating on shares of Enbridge in a research report on Friday, October 16th. Weiss Ratings cut Enbridge from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Finally, National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.88.

Enbridge Price Performance

NYSE:ENB opened at $48.94 on Wednesday. Enbridge Inc has a one year low of $45.03 and a one year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market cap of $109.07 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 5.91 and a beta of 0.59. The firm’s fifty day moving average is $48.23 and its two-hundred day moving average is $52.17.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.