TD Waterhouse Canada Inc. Has $863.95 Million Position in Enbridge Inc $ENB

TD Waterhouse Canada Inc. lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,189,798 shares of the pipeline company’s stock after purchasing an additional 164,934 shares during the period. Enbridge comprises 2.3% of TD Waterhouse Canada Inc.’s holdings, making the stock its 7th biggest position. TD Waterhouse Canada Inc.’s holdings in Enbridge were worth $863,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC lifted its stake in shares of Enbridge by 24.2% during the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company’s stock worth $5,956,000 after purchasing an additional 21,442 shares during the last quarter. SCS Capital Management LLC bought a new stake in Enbridge during the second quarter valued at about $9,204,000. Western Wealth Management LLC grew its stake in Enbridge by 346.8% in the first quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock valued at $1,959,000 after purchasing an additional 28,091 shares during the last quarter. BlackRock Inc. purchased a new position in Enbridge in the second quarter valued at about $183,623,000. Finally, Energy Income Partners LLC bought a new position in Enbridge in the second quarter worth about $31,292,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of ENB opened at $50.54 on Friday. The company’s fifty day moving average price is $53.24 and its 200-day moving average price is $53.98. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The firm has a market capitalization of $110.38 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 5.97 and a beta of 0.57. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45.

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

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Friday, August 14th. Enbridge’s dividend payout ratio (DPR) is currently 147.06%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ENB. Canadian Imperial Bank of Commerce raised shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a research report on Thursday, August 27th. Raymond James Financial lowered shares of Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, US Capital Advisors upgraded shares of Enbridge from a “hold” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $67.00.

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.