Graves Light Private Wealth Management Inc. Boosts Stock Position in Enbridge Inc (NYSE:ENB)

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Graves Light Private Wealth Management Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,413 shares of the pipeline company’s stock after purchasing an additional 420 shares during the quarter. Graves Light Private Wealth Management Inc.’s holdings in Enbridge were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. TD Asset Management Inc. increased its holdings in Enbridge by 3.7% during the 1st quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock worth $1,688,151,000 after purchasing an additional 1,648,741 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Enbridge by 4.1% during the 1st quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock worth $820,833,000 after purchasing an additional 895,305 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Enbridge by 10.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 14,089,169 shares of the pipeline company’s stock worth $510,874,000 after purchasing an additional 1,320,420 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Enbridge by 5.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,372,445 shares of the pipeline company’s stock worth $484,469,000 after purchasing an additional 652,618 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in Enbridge by 48.1% during the 1st quarter. Toronto Dominion Bank now owns 12,809,209 shares of the pipeline company’s stock worth $463,864,000 after purchasing an additional 4,162,457 shares during the last quarter. Institutional investors own 55.17% of the company’s stock.

In other news, insider Albert Monaco purchased 7,848 shares of the stock in a transaction dated Wednesday, June 5th. The stock was acquired at an average cost of $49.81 per share, for a total transaction of $390,908.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.42% of the stock is currently owned by insiders.

Several research firms have issued reports on ENB. Wolfe Research downgraded Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price objective on the stock. in a report on Thursday, June 13th. Goldman Sachs Group began coverage on Enbridge in a report on Thursday, July 18th. They set a “neutral” rating on the stock. Barclays initiated coverage on Enbridge in a report on Tuesday, April 9th. They set an “overweight” rating on the stock. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Industrial Alliance Securities reiterated a “buy” rating on shares of Enbridge in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $43.75.

Shares of NYSE ENB opened at $33.50 on Friday. Enbridge Inc has a twelve month low of $28.82 and a twelve month high of $38.04. The company has a quick ratio of 0.56, a current ratio of 0.64 and a debt-to-equity ratio of 0.92. The company has a market cap of $68.08 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 2.64 and a beta of 0.59. The firm has a 50 day moving average price of $35.32.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.08. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. The business had revenue of $9.92 billion during the quarter. Research analysts forecast that Enbridge Inc will post 1.9 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.251 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.00%. Enbridge’s dividend payout ratio (DPR) is 106.83%.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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