Mufg Securities Canada LTD. Has $158.95 Million Stake in Enbridge Inc $ENB

Mufg Securities Canada LTD. lessened its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,320,913 shares of the pipeline company’s stock after selling 287,272 shares during the period. Enbridge comprises about 4.4% of Mufg Securities Canada LTD.’s portfolio, making the stock its 5th largest holding. Mufg Securities Canada LTD. owned 0.15% of Enbridge worth $158,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ENB. Mariner LLC boosted its holdings in shares of Enbridge by 17.5% during the 4th quarter. Mariner LLC now owns 351,333 shares of the pipeline company’s stock worth $16,806,000 after buying an additional 52,385 shares during the period. Motiv8 Investments LLC bought a new stake in shares of Enbridge during the 4th quarter worth about $151,000. Focus Partners Wealth boosted its holdings in shares of Enbridge by 6.6% during the 4th quarter. Focus Partners Wealth now owns 341,145 shares of the pipeline company’s stock worth $16,326,000 after buying an additional 21,112 shares during the period. Glen Eagle Advisors LLC boosted its holdings in shares of Enbridge by 58.8% during the 4th quarter. Glen Eagle Advisors LLC now owns 2,118 shares of the pipeline company’s stock worth $101,000 after buying an additional 784 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Enbridge by 6,945.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 7,821 shares of the pipeline company’s stock worth $383,000 after buying an additional 7,710 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $56.49 on Monday. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The company has a 50-day simple moving average of $54.83 and a two-hundred day simple moving average of $51.67. The stock has a market capitalization of $123.35 billion, a price-to-earnings ratio of 26.52 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. During the same quarter in the previous year, the company earned $1.03 EPS. Analysts forecast that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average price target of $66.50.

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.