TD Private Client Wealth LLC Has $6.58 Million Stock Holdings in Enbridge Inc $ENB

TD Private Client Wealth LLC increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.6% during the 3rd quarter, Holdings Channel reports. The fund owned 130,375 shares of the pipeline company’s stock after buying an additional 15,611 shares during the quarter. TD Private Client Wealth LLC’s holdings in Enbridge were worth $6,580,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ENB. Vanguard Group Inc. boosted its position in shares of Enbridge by 3.5% during the second quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock worth $4,371,580,000 after purchasing an additional 3,217,961 shares in the last quarter. TD Asset Management Inc raised its stake in Enbridge by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock worth $1,804,913,000 after buying an additional 617,577 shares during the period. Norges Bank bought a new position in Enbridge during the second quarter worth about $1,113,368,000. Legal & General Group Plc grew its stake in Enbridge by 1.1% in the second 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 period. Finally, Geode Capital Management LLC increased its holdings in shares of Enbridge by 20.2% in the second quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after acquiring an additional 2,989,992 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $45.88 on Tuesday. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54. The company’s fifty day simple moving average is $47.47 and its 200-day simple moving average is $47.30. The firm has a market cap of $100.10 billion, a PE ratio of 25.21 and a beta of 0.68. 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 quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Equities research analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.5%. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is presently 147.80%.

Analyst Ratings Changes

ENB has been the subject of several research analyst reports. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Cibc World Mkts cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Scotiabank restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Enbridge in a research report on Monday, December 29th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.00.

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.