TD Waterhouse Canada Inc. Has $359.99 Million Position in Enbridge Inc $ENB

TD Waterhouse Canada Inc. lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,244,531 shares of the pipeline company’s stock after acquiring an additional 183,684 shares during the quarter. Enbridge makes up approximately 2.3% of TD Waterhouse Canada Inc.’s holdings, making the stock its 5th biggest position. TD Waterhouse Canada Inc. owned about 0.33% of Enbridge worth $359,993,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after purchasing an additional 3,217,961 shares in the last quarter. TD Asset Management Inc raised its position in Enbridge by 1.6% during the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after purchasing an additional 617,577 shares during the period. Norges Bank purchased a new stake in Enbridge during the 2nd quarter valued at $1,113,368,000. Legal & General Group Plc lifted its holdings in shares of Enbridge by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock worth $853,669,000 after acquiring an additional 207,243 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Enbridge by 20.2% in the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after purchasing an additional 2,989,992 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENB. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

NYSE:ENB opened at $48.50 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.68 and a debt-to-equity ratio of 1.64. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The firm has a market cap of $105.80 billion, a P/E ratio of 26.65 and a beta of 0.68. The stock has a 50 day moving average of $47.39 and a two-hundred day moving average of $47.52.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter in the previous year, the company posted $0.55 EPS. On average, analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is 147.80%.

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.