Hillsdale Investment Management Inc. Has $65.51 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Hillsdale Investment Management Inc. lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1,131.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,545,283 shares of the pipeline company’s stock after acquiring an additional 1,419,766 shares during the period. Enbridge makes up about 3.3% of Hillsdale Investment Management Inc.’s holdings, making the stock its 3rd largest holding. Hillsdale Investment Management Inc. owned 0.07% of Enbridge worth $65,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock worth $194,938,000 after buying an additional 4,502,115 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Enbridge in the fourth quarter worth $180,941,000. National Bank of Canada FI raised its position in shares of Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after buying an additional 2,061,758 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Enbridge by 44.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company’s stock worth $156,098,000 after buying an additional 1,183,821 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Enbridge by 10.8% in the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after buying an additional 985,546 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.8 %

NYSE ENB opened at $43.89 on Friday. The company has a market capitalization of $95.63 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 3.92 and a beta of 0.95. The stock’s 50-day simple moving average is $43.46 and its two-hundred day simple moving average is $42.33. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the business earned $0.64 EPS. Research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ENB shares. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $67.00.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.