Verity & Verity LLC Grows Stock Position in Enbridge Inc. (NYSE:ENB)

Verity & Verity LLC increased its holdings in Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 393,184 shares of the pipeline company’s stock after buying an additional 17,642 shares during the period. Enbridge comprises about 2.0% of Verity & Verity LLC’s holdings, making the stock its 15th largest position. Verity & Verity LLC’s holdings in Enbridge were worth $15,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Enbridge by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 73,349,925 shares of the pipeline company’s stock valued at $2,721,283,000 after purchasing an additional 2,489,930 shares in the last quarter. GQG Partners LLC lifted its holdings in Enbridge by 9.0% in the 2nd quarter. GQG Partners LLC now owns 51,856,121 shares of the pipeline company’s stock valued at $2,186,048,000 after purchasing an additional 4,276,415 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Enbridge by 2.6% in the 3rd quarter. TD Asset Management Inc. now owns 29,260,303 shares of the pipeline company’s stock valued at $1,102,609,000 after purchasing an additional 733,921 shares in the last quarter. Legal & General Group Plc lifted its holdings in Enbridge by 7.8% in the 2nd quarter. Legal & General Group Plc now owns 20,559,625 shares of the pipeline company’s stock valued at $861,277,000 after purchasing an additional 1,486,400 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Enbridge by 3.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 20,227,562 shares of the pipeline company’s stock valued at $757,122,000 after purchasing an additional 693,533 shares in the last quarter. 49.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ENB has been the topic of a number of recent research reports. BMO Capital Markets lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 24th. National Bank Financial upped their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research note on Friday, January 27th. StockNews.com began coverage on shares of Enbridge in a research note on Thursday. They set a “hold” rating for the company. Finally, Credit Suisse Group downgraded shares of Enbridge from a “neutral” rating to an “underperform” rating in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus price target of $59.00.

Enbridge Stock Down 1.2 %

ENB opened at $36.56 on Friday. The firm has a 50 day moving average price of $39.64 and a 200 day moving average price of $39.53. The company has a market cap of $74.03 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 2.72 and a beta of 0.83. Enbridge Inc. has a 1 year low of $35.02 and a 1 year high of $47.67. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.49 and a current ratio of 0.60.

Enbridge Profile

(Get Rating)

Enbridge, Inc engages in the provision of gas and oil. It operates through the following segments: Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.