The Manufacturers Life Insurance Company Sells 326,383 Shares of Enbridge Inc $ENB

The Manufacturers Life Insurance Company cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,810,669 shares of the pipeline company’s stock after selling 326,383 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Enbridge were worth $585,485,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Third View Private Wealth LLC acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $3,691,000. Vanguard Group Inc. lifted its holdings in Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares in the last quarter. RNC Capital Management LLC lifted its holdings in Enbridge by 1.6% during the 4th quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after buying an additional 22,637 shares in the last quarter. Thomasville National Bank boosted its position in Enbridge by 3.0% in the 4th quarter. Thomasville National Bank now owns 868,003 shares of the pipeline company’s stock valued at $41,517,000 after buying an additional 24,993 shares during the last quarter. Finally, Intact Investment Management Inc. boosted its position in Enbridge by 22.8% in the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock valued at $47,275,000 after buying an additional 183,163 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Price Performance

Shares of ENB stock opened at $55.36 on Tuesday. Enbridge Inc has a 52-week low of $44.58 and a 52-week high of $58.45. The stock has a market cap of $120.91 billion, a PE ratio of 25.99 and a beta of 0.58. 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’s 50 day moving average price is $55.71 and its two-hundred day moving average price is $53.36.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter in the previous year, the business earned $1.03 EPS. As a group, analysts forecast that Enbridge Inc will post 2.13 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. Enbridge’s payout ratio is 133.80%.

About Enbridge

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.