Enbridge Inc $ENB Position Raised by Viewpoint Investment Partners Corp

Viewpoint Investment Partners Corp increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 12.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 184,700 shares of the pipeline company’s stock after buying an additional 20,136 shares during the quarter. Enbridge accounts for approximately 2.7% of Viewpoint Investment Partners Corp’s portfolio, making the stock its 6th largest holding. Viewpoint Investment Partners Corp’s holdings in Enbridge were worth $8,455,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ENB. Deutsche Bank AG bought a new position in shares of Enbridge during the 2nd quarter valued at approximately $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Enbridge by 18.4% during 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 during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Enbridge by 1.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 16,189,798 shares of the pipeline company’s stock worth $863,952,000 after purchasing an additional 164,934 shares during the period. Amundi raised its holdings in shares of 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 during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Enbridge by 2.5% in the second quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock valued at $599,709,000 after purchasing an additional 268,800 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $48.28 on Tuesday. The firm has a market capitalization of $107.61 billion, a PE ratio of 25.82, a P/E/G ratio of 5.75 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $48.49 and a two-hundred day moving average price of $52.07. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the previous year, the firm posted $0.65 earnings per share. Equities analysts forecast that Enbridge Inc will post 2.09 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on ENB. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Enbridge in a research note on Thursday. Raymond James Financial reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, September 15th. Wolfe Research set a $50.00 target price on Enbridge in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada upped their price target on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.88.

Enbridge 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.