The Manufacturers Life Insurance Company Increases Position in Enbridge Inc $ENB

The Manufacturers Life Insurance Company boosted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,066,888 shares of the pipeline company’s stock after purchasing an additional 34,231 shares during the period. Enbridge comprises 0.6% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 27th largest position. The Manufacturers Life Insurance Company owned 0.74% of Enbridge worth $724,908,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after purchasing an additional 3,217,961 shares in the last quarter. GQG Partners LLC increased its stake in shares of Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock worth $3,338,405,000 after buying an additional 1,148,580 shares during the last quarter. TD Asset Management Inc raised its holdings in Enbridge by 1.6% in 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 acquiring an additional 617,577 shares in the last quarter. Norges Bank acquired a new stake in Enbridge in the second quarter valued at $1,113,368,000. Finally, Legal & General Group Plc boosted its stake in Enbridge by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 18,861,475 shares of the pipeline company’s stock valued at $853,669,000 after acquiring an additional 207,243 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ENB. CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Enbridge in a research note on Monday. Zacks Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

Shares of NYSE:ENB opened at $47.19 on Thursday. The company has a market cap of $102.93 billion, a PE ratio of 25.93 and a beta of 0.68. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The firm has a 50-day simple moving average of $47.84 and a 200 day simple moving average of $47.12. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a return on equity of 10.51% and a net margin of 9.20%.During the same period in the prior year, the business earned $0.55 EPS. On average, sell-side analysts anticipate that Enbridge Inc will post 2.14 EPS for the current 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. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a yield of 8.2%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is presently 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.