TD Asset Management Inc. lowered its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,306,814 shares of the pipeline company’s stock after selling 289,980 shares during the quarter. Enbridge comprises 2.5% of TD Asset Management Inc.’s holdings, making the stock its 5th largest holding. TD Asset Management Inc.’s holdings in Enbridge were worth $1,676,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of ENB. CIBC Asset Management Inc raised its stake in shares of Enbridge by 4.1% in the first quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock worth $820,833,000 after purchasing an additional 895,305 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Enbridge by 10.3% in the first quarter. The Manufacturers Life Insurance Company now owns 14,089,169 shares of the pipeline company’s stock worth $510,874,000 after purchasing an additional 1,320,420 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Enbridge by 5.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,372,445 shares of the pipeline company’s stock worth $484,469,000 after purchasing an additional 652,618 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Enbridge by 6.8% in the second quarter. Great West Life Assurance Co. Can now owns 13,006,953 shares of the pipeline company’s stock worth $468,753,000 after purchasing an additional 833,190 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Enbridge by 48.1% in the first quarter. Toronto Dominion Bank now owns 12,809,209 shares of the pipeline company’s stock worth $463,864,000 after purchasing an additional 4,162,457 shares during the last quarter. 55.45% of the stock is currently owned by institutional investors.

ENB stock traded up $0.63 during trading on Tuesday, hitting $34.33. 296,362 shares of the company traded hands, compared to its average volume of 2,997,578. The stock’s 50-day moving average is $35.07. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $69.28 billion, a P/E ratio of 16.75, a PEG ratio of 2.65 and a beta of 0.59. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $38.04.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. The company had revenue of $9.92 billion during the quarter. Enbridge had a return on equity of 8.16% and a net margin of 9.97%. Research analysts predict that Enbridge Inc will post 1.9 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be issued a $0.559 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.52. This represents a $2.24 annualized dividend and a yield of 6.51%. The ex-dividend date is Wednesday, August 14th. Enbridge’s dividend payout ratio (DPR) is presently 106.83%.

In other Enbridge news, insider Albert Monaco acquired 7,848 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were bought at an average cost of $49.81 per share, with a total value of $390,908.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on the company. Bank of America cut Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a research note on Tuesday, July 2nd. ValuEngine cut Enbridge from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Credit Suisse Group cut Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Goldman Sachs Group initiated coverage on Enbridge in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. Finally, Wolfe Research cut Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target for the company. in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Enbridge has a consensus rating of “Hold” and an average target price of $43.75.

Enbridge Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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