Enbridge Inc $ENB Shares Purchased by TD Asset Management Inc

TD Asset Management Inc grew its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,021,291 shares of the pipeline company’s stock after acquiring an additional 137,897 shares during the quarter. Enbridge accounts for about 1.6% of TD Asset Management Inc’s investment portfolio, making the stock its 9th largest holding. TD Asset Management Inc owned about 1.83% of Enbridge worth $2,019,473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENB. Brighton Jones LLC acquired a new position in Enbridge during the 4th quarter worth approximately $261,000. AQR Capital Management LLC increased its stake in shares of Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after purchasing an additional 11,599 shares during the last quarter. Ethic Inc. increased its position in Enbridge by 69.0% during the second quarter. Ethic Inc. now owns 9,922 shares of the pipeline company’s stock worth $444,000 after buying an additional 4,050 shares during the last quarter. Whipplewood Advisors LLC raised its stake in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Enbridge by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock valued at $187,705,000 after purchasing an additional 32,268 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.1%

Shares of NYSE:ENB opened at $52.42 on Wednesday. The business’s 50 day moving average is $48.59 and its 200 day moving average is $48.26. The stock has a market cap of $114.36 billion, a price-to-earnings ratio of 22.79 and a beta of 0.69. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $54.19.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating 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 company had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the business posted $0.75 earnings per share. On average, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is currently 120.87%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ENB. Royal Bank Of Canada lifted their target price on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. National Bank Financial reissued a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. cut Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.