The Manufacturers Life Insurance Company Purchases 268,800 Shares of Enbridge Inc $ENB

The Manufacturers Life Insurance Company increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,079,469 shares of the pipeline company’s stock after purchasing an additional 268,800 shares during the period. The Manufacturers Life Insurance Company’s holdings in Enbridge were worth $599,709,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ENB. Retirement Planning Group LLC lifted its position in Enbridge by 3.6% during the first quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock valued at $290,000 after buying an additional 187 shares during the period. Bank & Trust Co grew its position in shares of Enbridge by 0.6% in the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock worth $1,804,000 after buying an additional 193 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Enbridge by 0.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock worth $1,710,000 after acquiring an additional 194 shares in the last quarter. PFG Investments LLC increased its stake in shares of Enbridge by 0.9% in the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock worth $1,202,000 after acquiring an additional 202 shares in the last quarter. Finally, MIdWestOne Financial Group Inc. lifted its position in Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 203 shares during the period. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ENB shares. Wolfe Research set a $50.00 price objective on shares of Enbridge in a research note on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Wednesday, August 19th. Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. US Capital Advisors raised Enbridge from a “hold” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Finally, National Bank Financial upgraded Enbridge from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $48.24 on Friday. Enbridge Inc has a fifty-two week low of $45.03 and a fifty-two week high of $58.45. The business has a 50-day simple moving average of $52.76 and a two-hundred day simple moving average of $53.91. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The firm has a market cap of $105.36 billion, a price-to-earnings ratio of 25.80, a price-to-earnings-growth ratio of 5.95 and a beta of 0.57.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The firm had revenue of $9.70 billion for the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter last year, the firm posted $0.65 EPS. On average, analysts expect that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.97 per share. The ex-dividend date was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 8.0%. Enbridge’s dividend payout ratio is 147.06%.

Enbridge News Roundup

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to acquire Tallgrass’ crude transportation business for approximately US$2.55 billion. The assets include a 75% interest in the Pony Express pipeline, as well as storage and terminal infrastructure connecting Rocky Mountain production with Cushing, Oklahoma. Enbridge expects the deal to be accretive to distributable cash flow per share in the first full year, strengthening its U.S. liquids pipeline platform. Enbridge to Acquire Tallgrass’ Crude Transportation Business
• Positive Sentiment: National Bank Financial upgraded Enbridge from “hold” to “strong-buy,” adding analyst support after the recent pullback. Enbridge Analyst Upgrade
• Positive Sentiment: Short interest fell 47% between August 15 and August 31, leaving about 1.7% of shares sold short. The reduction suggests bearish positioning has eased and may provide technical support.
• Positive Sentiment: Investors continue to highlight Enbridge’s scale, diversified infrastructure portfolio and long dividend record, including 31 consecutive years of dividend increases. Enbridge Dividend Article
• Neutral Sentiment: Enbridge is also pursuing gas infrastructure growth, including a reported $33 million Enbridge Gas Ohio pipeline project, while broader midstream mergers are being driven by LNG, NGL and crude export demand. Enbridge Gas Ohio Pipeline Project
• Negative Sentiment: To help fund the Tallgrass acquisition and other opportunities, Enbridge launched a bought-deal offering of approximately C$2.6 billion, issuing 38.9 million shares at C$66.85. The added share count creates near-term dilution and overshadowed the acquisition’s expected cash-flow benefits. Enbridge Equity Offering and Tallgrass Analysis
• Negative Sentiment: Michigan Governor Gretchen Whitmer again urged Enbridge to shut down Line 5 and said the state is reconsidering related permits, maintaining regulatory and operational risk around the pipeline. Whitmer Line 5 Comments

Enbridge Profile

Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America’s largest energy delivery businesses, operating primarily in Canada and the United States.

Enbridge’s operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.