M&T Bank Corp Buys 5,733 Shares of Enbridge Inc (ENB)

M&T Bank Corp boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 380,583 shares of the pipeline company’s stock after acquiring an additional 5,733 shares during the period. M&T Bank Corp’s holdings in Enbridge were worth $15,151,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ENB. Caisse DE Depot ET Placement DU Quebec increased its position in Enbridge by 10.9% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 43,464,138 shares of the pipeline company’s stock worth $1,818,540,000 after purchasing an additional 4,256,369 shares during the period. TD Asset Management Inc. increased its position in Enbridge by 4.6% during the 2nd quarter. TD Asset Management Inc. now owns 43,401,073 shares of the pipeline company’s stock worth $1,726,420,000 after purchasing an additional 1,909,405 shares during the period. Vanguard Group Inc. increased its position in Enbridge by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock worth $1,621,930,000 after purchasing an additional 1,758,679 shares during the period. FMR LLC increased its position in Enbridge by 30.6% during the 1st quarter. FMR LLC now owns 34,484,573 shares of the pipeline company’s stock worth $1,444,626,000 after purchasing an additional 8,072,511 shares during the period. Finally, Bank of America Corp DE increased its position in Enbridge by 1,072.3% during the 1st quarter. Bank of America Corp DE now owns 30,748,683 shares of the pipeline company’s stock worth $1,286,524,000 after purchasing an additional 28,125,698 shares during the period. Hedge funds and other institutional investors own 61.58% of the company’s stock.

Several equities analysts have issued reports on ENB shares. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 target price (down previously from $45.00) on shares of Enbridge in a research report on Friday, July 14th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Zacks Investment Research cut Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Enbridge has a consensus rating of “Hold” and an average target price of $54.67.

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Enbridge Inc (NYSE ENB) traded down 0.05% during midday trading on Friday, hitting $41.42. The company had a trading volume of 406,326 shares. The company’s 50 day moving average is $40.46 and its 200 day moving average is $40.52. The stock has a market cap of $68.17 billion, a price-to-earnings ratio of 33.46 and a beta of 0.63. Enbridge Inc has a 12-month low of $37.37 and a 12-month high of $45.09.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same quarter in the prior year, the business earned $0.50 EPS. On average, equities analysts anticipate that Enbridge Inc will post $1.68 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a dividend of $0.489 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Friday, August 11th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. Enbridge’s dividend payout ratio (DPR) is currently 190.29%.

Enbridge Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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