TD Asset Management Inc Decreases Holdings in Enbridge Inc $ENB

TD Asset Management Inc cut its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,271,765 shares of the pipeline company’s stock after selling 749,526 shares during the period. Enbridge comprises approximately 1.5% of TD Asset Management Inc’s holdings, making the stock its 13th largest position. TD Asset Management Inc’s holdings in Enbridge were worth $1,881,718,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tsfg LLC raised its stake in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after buying an additional 379 shares during the last quarter. Triumph Capital Management purchased a new stake in Enbridge during the 3rd quarter valued at $26,000. Turning Point Benefit Group Inc. purchased a new stake in Enbridge during the 3rd quarter valued at $28,000. Garner Asset Management Corp purchased a new stake in Enbridge during the 4th quarter valued at $30,000. Finally, Imprint Wealth LLC purchased a new stake in Enbridge during the 3rd quarter valued at $31,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Down 0.8%

Shares of ENB stock opened at $55.87 on Thursday. Enbridge Inc has a 52-week low of $43.59 and a 52-week high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market capitalization of $122.01 billion, a PE ratio of 26.23 and a beta of 0.58. The stock has a fifty day simple moving average of $54.56 and a two-hundred day simple moving average of $51.27.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the business posted $1.03 EPS. On average, analysts predict that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is presently 133.80%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen lowered Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, May 24th. Royal Bank Of Canada upped their price objective on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.