The Manufacturers Life Insurance Company Boosts Stake in Enbridge Inc $ENB

Key Points

• The Manufacturers Life Insurance Company increased its Enbridge stake by 2.5% in the second quarter, adding 268,800 shares for a total holding of 11.08 million shares valued at approximately $599.7 million.
• Analysts maintain a generally positive outlook, with Enbridge carrying a “Moderate Buy” consensus rating and an average price target of $67.00; National Bank Financial recently upgraded the stock to “strong buy.”
• Enbridge reported quarterly earnings and revenue above estimates and offers an annualized dividend of $3.88, yielding about 8.0%, though its planned C$2.6 billion equity offering could create near-term shareholder dilution.

The Manufacturers Life Insurance Company boosted its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,079,469 shares of the pipeline company's stock after acquiring an additional 268,800 shares during the quarter. The Manufacturers Life Insurance Company owned 0.51% of Enbridge worth $599,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC grew its position in Enbridge by 24.2% during the first quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company's stock valued at $5,956,000 after acquiring an additional 21,442 shares during the last quarter. SCS Capital Management LLC purchased a new position in shares of Enbridge during the second quarter worth approximately $9,204,000. Western Wealth Management LLC lifted its holdings in shares of Enbridge by 346.8% in the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company's stock worth $1,959,000 after acquiring an additional 28,091 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Enbridge in the 2nd quarter valued at $183,623,000. Finally, Energy Income Partners LLC purchased a new stake in shares of Enbridge in the 2nd quarter valued at $31,292,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the topic of a number of analyst reports. TD Securities reiterated a "hold" rating on shares of Enbridge in a research report on Thursday, July 16th. Wolfe Research set a $50.00 price target on shares of Enbridge in a research report on Tuesday, August 4th. Royal Bank Of Canada raised their price objective on Enbridge from $79.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. National Bank Financial upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Enbridge in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge News Summary

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge agreed to acquire Tallgrass’ crude transportation business for approximately US$2.55 billion. The assets include a 75% interest in the Pony Express pipeline, as well as storage and terminal infrastructure connecting Rocky Mountain production with Cushing, Oklahoma. Enbridge expects the deal to be accretive to distributable cash flow per share in the first full year, strengthening its U.S. liquids pipeline platform. Enbridge to Acquire Tallgrass' Crude Transportation Business
• Positive Sentiment: National Bank Financial upgraded Enbridge from “hold” to “strong-buy,” adding analyst support after the recent pullback. Enbridge Analyst Upgrade
• Positive Sentiment: Short interest fell 47% between August 15 and August 31, leaving about 1.7% of shares sold short. The reduction suggests bearish positioning has eased and may provide technical support.
• Positive Sentiment: Investors continue to highlight Enbridge’s scale, diversified infrastructure portfolio and long dividend record, including 31 consecutive years of dividend increases. Enbridge Dividend Article
• Neutral Sentiment: Enbridge is also pursuing gas infrastructure growth, including a reported $33 million Enbridge Gas Ohio pipeline project, while broader midstream mergers are being driven by LNG, NGL and crude export demand. Enbridge Gas Ohio Pipeline Project
• Negative Sentiment: To help fund the Tallgrass acquisition and other opportunities, Enbridge launched a bought-deal offering of approximately C$2.6 billion, issuing 38.9 million shares at C$66.85. The added share count creates near-term dilution and overshadowed the acquisition’s expected cash-flow benefits. Enbridge Equity Offering and Tallgrass Analysis
• Negative Sentiment: Michigan Governor Gretchen Whitmer again urged Enbridge to shut down Line 5 and said the state is reconsidering related permits, maintaining regulatory and operational risk around the pipeline. Whitmer Line 5 Comments

Enbridge Stock Down 3.8%

Shares of NYSE:ENB opened at $48.24 on Friday. The stock's 50-day moving average is $52.76 and its 200 day moving average is $53.91. The company has a market cap of $105.36 billion, a PE ratio of 25.80, a P/E/G ratio of 5.95 and a beta of 0.57. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.The firm had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the company earned $0.65 EPS. Sell-side analysts anticipate that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a $0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 8.0%. Enbridge's dividend payout ratio is 147.06%.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company headquartered in Calgary, Alberta. Founded in 1949 as Interprovincial Pipe Line, the company has grown into one of North America's largest energy delivery businesses, operating primarily in Canada and the United States.

Enbridge's operations include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas distribution and utility services. Its pipeline systems transport energy products from producing regions to refineries, export facilities, utilities and other customers.

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