Mufg Securities Canada LTD. Trims Holdings in Enbridge Inc $ENB

Mufg Securities Canada LTD. lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,088,830 shares of the pipeline company’s stock after selling 147,443 shares during the quarter. Enbridge makes up approximately 4.4% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 7th largest position. Mufg Securities Canada LTD.’s holdings in Enbridge were worth $167,236,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Retirement Planning Group LLC raised its position in Enbridge by 3.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares during the last quarter. Bank & Trust Co increased its position in shares of Enbridge by 0.6% during the second 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 raised its stake in Enbridge by 0.6% during the second quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock worth $1,710,000 after buying an additional 194 shares during the last quarter. PFG Investments LLC boosted its position in Enbridge by 0.9% during the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after acquiring an additional 202 shares during the last quarter. Finally, MIdWestOne Financial Group Inc. grew its holdings in Enbridge by 4.3% during the 4th quarter. MIdWestOne Financial Group Inc. now owns 4,906 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 203 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. Wolfe Research set a $50.00 price objective on Enbridge in a report on Tuesday, August 4th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. 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 analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Trading Up 0.9%

Shares of ENB stock opened at $50.65 on Tuesday. Enbridge Inc has a 12-month low of $45.03 and a 12-month high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The company has a 50 day moving average of $53.56 and a 200-day moving average of $54.02. The firm has a market cap of $110.62 billion, a P/E ratio of 27.09 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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. The company had revenue of $9.70 billion for 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 anticipate that Enbridge Inc will post 2.11 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge’s dividend payout ratio is presently 147.06%.

Enbridge Company 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.