Enbridge Inc $ENB is TD Asset Management Inc's 10th Largest Position

Key Points

• TD Asset Management Inc has increased its holdings in Enbridge Inc by 1.6%, now owning approximately 39.88 million shares, making it the firm's 10th largest position in their investment portfolio.
• Enbridge recently raised its quarterly dividend to $0.6839 per share, resulting in an annualized yield of 5.7%, indicating a high payout ratio of 134.98%.
• Recent analyst ratings for Enbridge show a mixed response, with CIBC downgrading it from "outperform" to "neutral," while Jefferies upgraded it to a "buy," contributing to a consensus hold rating with a target price of $60.50.

TD Asset Management Inc lifted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,883,394 shares of the pipeline company's stock after buying an additional 617,577 shares during the quarter. Enbridge makes up approximately 1.5% of TD Asset Management Inc's investment portfolio, making the stock its 10th largest position. TD Asset Management Inc owned approximately 1.83% of Enbridge worth $1,804,913,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dagco Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $25,000. Garde Capital Inc. purchased a new position in Enbridge in the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Enbridge in the 1st quarter worth about $28,000. Accent Capital Management LLC acquired a new stake in Enbridge in the 1st quarter worth about $30,000. Finally, Wolff Wiese Magana LLC increased its stake in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ENB. Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a research report on Wednesday, October 8th. CIBC lowered Enbridge from an "outperform" rating to a "neutral" rating in a report on Thursday. Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Tuesday, August 5th. Finally, Cibc World Mkts downgraded shares of Enbridge from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $60.50.

Enbridge Trading Up 0.1%

Shares of ENB opened at $47.74 on Tuesday. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $50.54. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $104.10 billion, a P/E ratio of 23.51, a P/E/G ratio of 4.38 and a beta of 0.78. The firm has a 50-day moving average price of $48.44 and a 200 day moving average price of $46.30.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same period last year, the company earned $0.58 EPS. Sell-side analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were issued a $0.6839 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.7%. Enbridge's payout ratio is 134.98%.

Enbridge Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.