The Globe and Mail reports in its Saturday, Oct. 21, edition that Enbridge shares have lost more than one-quarter of their value over the past 16 months as dividend stocks. The Globe's John Heinzl writes that Enbridge's stock is now languishing about 34 per cent below its record high of more than $66, reached in 2015. Even so, Mr. Heinzl is not worried on the prospects for the shares. He says the stock is down, in part, because of Enbridge's September purchase of gas utilities from Dominion Energy for $14-billion (U.S,). To help finance the acquisition Enbridge issued $4.6-billion (Canadian) of shares to a syndicate of underwriters in what is known as a bought deal. However, to sell such a large chunk of stock amid less-than-favourable market conditions, the new shares were priced at $44.70 (Canadian) -- a discount of more than 7 per cent to Enbridge's closing price before the acquisition was announced. Odlum Brown analyst Cory O'Krainetz says the acquisition was "an opportunity Enbridge couldn't refuse and should be value accretive to shareholders." Mr. O'Krainetz says, "We expect Enbridge shares to trade at or below the equity offer price over the near term, but we see significant upside over the long term."