Manitou Investment Management Ltd. Boosts Position in Enbridge Inc. (NYSE:ENB)

Manitou Investment Management Ltd. grew its holdings in shares of Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) by 56.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,880 shares of the pipeline company’s stock after buying an additional 40,555 shares during the period. Enbridge accounts for 0.8% of Manitou Investment Management Ltd.’s portfolio, making the stock its 25th biggest position. Manitou Investment Management Ltd.’s holdings in Enbridge were worth $5,153,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG increased its stake in shares of Enbridge by 10.6% during the fourth quarter. Deutsche Bank AG now owns 22,595,887 shares of the pipeline company’s stock valued at $883,048,000 after buying an additional 2,164,782 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Enbridge by 17.9% during the fourth quarter. 1832 Asset Management L.P. now owns 21,713,610 shares of the pipeline company’s stock valued at $846,527,000 after buying an additional 3,303,114 shares during the period. Legal & General Group Plc increased its stake in shares of Enbridge by 2.5% during the fourth quarter. Legal & General Group Plc now owns 19,831,552 shares of the pipeline company’s stock valued at $775,726,000 after buying an additional 481,925 shares during the period. Norges Bank purchased a new stake in Enbridge in the fourth quarter worth $676,148,000. Finally, GQG Partners LLC purchased a new stake in Enbridge in the fourth quarter worth $380,238,000. 53.23% of the stock is currently owned by hedge funds and other institutional investors.

ENB stock opened at $41.25 on Thursday. Enbridge Inc. has a fifty-two week low of $36.21 and a fifty-two week high of $47.67. The business’s 50-day moving average is $44.62 and its two-hundred day moving average is $42.98. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.68. The company has a market cap of $83.59 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.91 and a beta of 0.77.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last posted its quarterly earnings data on Friday, May 6th. The pipeline company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enbridge had a return on equity of 10.40% and a net margin of 12.20%. The company had revenue of $11.92 billion during the quarter, compared to the consensus estimate of $8.76 billion. During the same period last year, the business earned $0.62 EPS. Equities analysts predict that Enbridge Inc. will post 2.38 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend was Thursday, May 12th. Enbridge’s dividend payout ratio (DPR) is currently 116.16%.

ENB has been the topic of several recent research reports. Royal Bank of Canada upped their price target on Enbridge from C$60.00 to C$65.00 in a research note on Monday, May 9th. US Capital Advisors reissued an “overweight” rating on shares of Enbridge in a research note on Wednesday, June 1st. Scotiabank increased their target price on Enbridge from C$58.00 to C$62.00 in a research note on Tuesday, April 19th. TD Securities increased their target price on Enbridge from C$61.00 to C$62.00 in a research note on Monday, May 9th. Finally, National Bank Financial increased their target price on Enbridge from C$57.00 to C$60.00 in a research note on Monday, May 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.42.

Enbridge Company Profile (Get Rating)

Enbridge Inc 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.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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