CIBC Bancorp USA Inc. Invests $26.49 Million in Enbridge Inc $ENB

CIBC Bancorp USA Inc. acquired a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 522,141 shares of the pipeline company’s stock, valued at approximately $26,493,000.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in Enbridge during the second quarter worth $1,113,368,000. Bank of Nova Scotia lifted its position in shares of Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after buying an additional 5,157,030 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Enbridge by 38.7% in the second quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock worth $599,556,000 after buying an additional 3,687,334 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after acquiring an additional 3,217,961 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of Enbridge during the 2nd quarter worth about $132,105,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ENB shares. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada increased their price target on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Finally, Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Trading Down 1.5%

Shares of NYSE:ENB opened at $53.26 on Thursday. The company has a market cap of $116.20 billion, a P/E ratio of 23.16 and a beta of 0.67. The stock’s 50-day moving average is $50.69 and its 200-day moving average is $48.94. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $54.70. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the company posted $0.75 earnings per share. Equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.