Jarislowsky Fraser Ltd buys $607.1 Million stake in Enbridge Inc (USA) (ENB)

Enbridge Inc (USA) (ENB) : Jarislowsky Fraser Ltd scooped up 1,088,540 additional shares in Enbridge Inc (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 15,193,695 shares of Enbridge Inc (USA) which is valued at $607.1 Million.Enbridge Inc (USA) makes up approximately 4.25% of Jarislowsky Fraser Ltd’s portfolio.

Other Hedge Funds, Including , Oppenheimerfunds boosted its stake in ENB in the latest quarter, The investment management firm added 90,273 additional shares and now holds a total of 1,151,005 shares of Enbridge Inc (USA) which is valued at $46 Million. Enbridge Inc (USA) makes up approx 0.06% of Oppenheimerfunds’s portfolio.Taylor Asset Management Inc boosted its stake in ENB in the latest quarter, The investment management firm added 523,300 additional shares and now holds a total of 630,800 shares of Enbridge Inc (USA) which is valued at $25.2 Million. Enbridge Inc (USA) makes up approx 6.48% of Taylor Asset Management Inc’s portfolio.Kayne Anderson Capital Advisors Lp boosted its stake in ENB in the latest quarter, The investment management firm added 236,780 additional shares and now holds a total of 953,801 shares of Enbridge Inc (USA) which is valued at $38.1 Million. Enbridge Inc (USA) makes up approx 0.48% of Kayne Anderson Capital Advisors Lp’s portfolio.Exane Derivatives reduced its stake in ENB by selling 68 shares or 2.3% in the most recent quarter. The Hedge Fund company now holds 2,887 shares of ENB which is valued at $113,430. Enbridge Inc (USA) makes up approx 0.02% of Exane Derivatives’s portfolio.Ifp Advisors Inc boosted its stake in ENB in the latest quarter, The investment management firm added 899 additional shares and now holds a total of 6,695 shares of Enbridge Inc (USA) which is valued at $263,047. Enbridge Inc (USA) makes up approx 0.02% of Ifp Advisors Inc’s portfolio.

Enbridge Inc (USA) opened for trading at $39.82 and hit $40.36 on the upside on Friday, eventually ending the session at $40.29, with a gain of 1.38% or 0.55 points. The heightened volatility saw the trading volume jump to 7,50,170 shares. Company has a market cap of $37,434 M.

On the company’s financial health, Enbridge Inc (USA) reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 12, 2016. Analyst had a consensus of $0.63. The company had revenue of $8795.00 million for the quarter, compared to analysts expectations of $12977.32 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Enbridge Inc. (Enbridge) is an energy transportation and distribution company. The Company operates in five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines Processing and Energy Services; Sponsored Investments and Corporate. Liquids Pipelines segment owns and operates crude oil and other liquid hydrocarbons pipelines and terminals. Gas Distribution consists of the Company’s natural gas utility operations. Gas Pipelines Processing and Energy Services segment consists of investments in natural gas pipelines gathering and processing facilities and the Company’s energy services businesses along with renewable energy and transmission facilities. Sponsored Investments includes the Company’s 33.7% economic interest in Enbridge Energy Partners L.P. (EEP) and Enbridge’s interests in both the Eastern Access and Lakehead System Mainline expansion projects held through Enbridge Energy Limited Partnership (EELP). The Corporate segment includes an investment in Noverco Inc.

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