TD Waterhouse Canada Inc. Acquires 208,711 Shares of Enbridge Inc $ENB

TD Waterhouse Canada Inc. increased its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,060,847 shares of the pipeline company’s stock after purchasing an additional 208,711 shares during the period. Enbridge accounts for 2.3% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 4th largest position. TD Waterhouse Canada Inc. owned approximately 0.32% of Enbridge worth $316,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Enbridge by 1.2% during the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after purchasing an additional 221 shares in the last quarter. New England Capital Financial Advisors LLC raised its position in shares of Enbridge by 21.0% during the second quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 223 shares during the period. Loudon Investment Management LLC lifted its stake in Enbridge by 1.1% during the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after buying an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its position in shares of Enbridge by 1.7% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock valued at $662,000 after acquiring an additional 242 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its position in shares of Enbridge by 4.8% in the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after buying an additional 243 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENB. Zacks Research downgraded shares of Enbridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Argus boosted their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 1.1%

ENB opened at $48.29 on Wednesday. The firm has a market cap of $105.33 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The business has a 50 day moving average price of $48.26 and a 200 day moving average price of $46.85. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter last year, the business earned $0.55 EPS. Research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.9425 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date is Friday, November 14th. This represents a $3.77 dividend on an annualized basis and a yield of 7.8%. Enbridge’s dividend payout ratio is currently 147.80%.

About Enbridge

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.