TD Waterhouse Canada Inc. increased its stake in Enbridge Inc (NYSE:ENB – Free Report) (TSE:ENB) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,189,798 shares of the pipeline company’s stock after acquiring an additional 164,934 shares during the period. Enbridge makes up approximately 2.3% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 7th biggest position. TD Waterhouse Canada Inc. owned 0.74% of Enbridge worth $863,952,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Triumph Capital Management bought a new stake in shares of Enbridge in the 3rd quarter valued at approximately $26,000. Arlington Trust Co LLC boosted its holdings in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 267 shares during the period. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $28,000. Inspire Investing LLC bought a new position in shares of Enbridge during the 4th quarter valued at approximately $29,000. Finally, Garner Asset Management Corp purchased a new stake in Enbridge during the 4th quarter valued at $30,000. 54.60% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts recently issued reports on ENB shares. TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday, August 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Finally, Raymond James Financial lowered Enbridge from an “outperform” rating to a “market perform” rating in a research report on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.
Enbridge Stock Up 0.5%
Shares of NYSE:ENB opened at $50.54 on Friday. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The stock has a market cap of $110.38 billion, a P/E ratio of 27.03, a price-to-earnings-growth ratio of 5.97 and a beta of 0.57. The business’s 50 day moving average is $53.24 and its 200 day moving average is $53.98. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period in the previous year, the company posted $0.65 EPS. Sell-side analysts predict that Enbridge Inc will post 2.11 EPS for the current year.
Enbridge Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were paid a dividend of $0.97 per share. The ex-dividend date was Friday, August 14th. This represents a $3.88 annualized dividend and a dividend yield of 7.7%. Enbridge’s dividend payout ratio (DPR) is currently 147.06%.
Enbridge Profile
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.
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