The Manufacturers Life Insurance Company Sells 326,383 Shares of Enbridge Inc $ENB

The Manufacturers Life Insurance Company trimmed its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,810,669 shares of the pipeline company's stock after selling 326,383 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.50% of Enbridge worth $585,485,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Enbridge during the 4th quarter worth about $1,195,559,000. Auto Owners Insurance Co raised its stake in shares of Enbridge by 4,683.0% in the 4th quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company's stock valued at $40,975,000 after acquiring an additional 8,387,721 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Enbridge by 787.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,196,000 shares of the pipeline company's stock worth $173,189,000 after purchasing an additional 2,836,000 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Enbridge in the 4th quarter worth approximately $132,705,000. Finally, Vanguard Group Inc. boosted its position in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company's stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ENB shares. Royal Bank Of Canada increased their price target on Enbridge from $76.00 to $79.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Scotiabank reaffirmed an "outperform" rating on shares of Enbridge in a report on Tuesday, July 21st. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. TD Securities reissued a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Enbridge in a research report on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.50.

Enbridge Stock Down 2.6%

ENB opened at $55.36 on Tuesday. The firm has a market cap of $120.91 billion, a price-to-earnings ratio of 25.99 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. The firm's 50-day simple moving average is $55.71 and its 200-day simple moving average is $53.36. Enbridge Inc has a twelve month low of $44.58 and a twelve month high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period last year, the firm posted $1.03 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.13 EPS for the current fiscal year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. Enbridge's dividend payout ratio (DPR) is presently 133.80%.

Enbridge Company 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.

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