TD Asset Management Inc Trims Holdings in Enbridge Inc $ENB

TD Asset Management Inc trimmed its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,271,765 shares of the pipeline company’s stock after selling 749,526 shares during the quarter. Enbridge makes up approximately 1.5% of TD Asset Management Inc’s holdings, making the stock its 13th largest position. TD Asset Management Inc owned 1.80% of Enbridge worth $1,881,718,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Trajan Wealth LLC boosted its position in Enbridge by 15.3% during the 3rd quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after acquiring an additional 106,784 shares in the last quarter. Principal Financial Group Inc. boosted its position in Enbridge by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after acquiring an additional 24,165 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Enbridge by 3.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock valued at $53,652,000 after acquiring an additional 41,601 shares in the last quarter. Viking Fund Management LLC boosted its position in shares of Enbridge by 35.2% in the 4th quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock worth $11,288,000 after purchasing an additional 61,500 shares in the last quarter. Finally, Third View Private Wealth LLC bought a new stake in shares of Enbridge in the 4th quarter worth approximately $3,691,000. 54.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their price target on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Finally, TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

ENB stock opened at $55.87 on Thursday. The stock has a market capitalization of $122.01 billion, a PE ratio of 26.23 and a beta of 0.58. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The stock’s 50 day simple moving average is $54.56 and its 200 day simple moving average is $51.27.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data 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 business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the prior year, the firm posted $1.03 EPS. As a group, research analysts forecast that Enbridge Inc will post 2.2 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.9%. Enbridge’s dividend payout ratio is 133.80%.

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.