Enbridge Inc $ENB Stock Position Increased by TD Asset Management Inc

TD Asset Management Inc grew its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 39,883,394 shares of the pipeline company’s stock after purchasing an additional 617,577 shares during the quarter. Enbridge makes up 1.5% of TD Asset Management Inc’s holdings, making the stock its 10th biggest holding. TD Asset Management Inc’s holdings in Enbridge were worth $1,804,913,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in ENB. Wealth Enhancement Advisory Services LLC raised its stake in shares of Enbridge by 6.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 438,557 shares of the pipeline company’s stock valued at $19,431,000 after acquiring an additional 25,071 shares in the last quarter. 111 Capital acquired a new position in shares of Enbridge during the second quarter worth about $1,887,000. Loudon Investment Management LLC increased its stake in shares of Enbridge by 40.6% during the second quarter. Loudon Investment Management LLC now owns 29,801 shares of the pipeline company’s stock worth $1,351,000 after buying an additional 8,600 shares during the period. Hartline Investment Corp raised its holdings in Enbridge by 31.3% in the first quarter. Hartline Investment Corp now owns 36,098 shares of the pipeline company’s stock valued at $1,600,000 after acquiring an additional 8,610 shares in the last quarter. Finally, JBR Co Financial Management Inc purchased a new position in Enbridge in the first quarter worth approximately $330,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.1%

Enbridge stock opened at $47.74 on Tuesday. The company has a market capitalization of $104.10 billion, a P/E ratio of 23.51, a PEG ratio of 4.38 and a beta of 0.78. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The stock has a 50-day simple moving average of $48.44 and a 200-day simple moving average of $46.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the firm posted $0.58 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a dividend of $0.6839 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.68. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s dividend payout ratio is 134.98%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and an average price target of $60.50.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.