Mufg Securities Canada LTD. Has $158.95 Million Stock Position in Enbridge Inc $ENB

Mufg Securities Canada LTD. lessened its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,320,913 shares of the pipeline company’s stock after selling 287,272 shares during the period. Enbridge makes up about 4.4% of Mufg Securities Canada LTD.’s portfolio, making the stock its 5th largest holding. Mufg Securities Canada LTD.’s holdings in Enbridge were worth $158,950,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triumph Capital Management bought a new stake in shares of Enbridge during the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge during the 3rd quarter worth approximately $28,000. Garner Asset Management Corp bought a new stake in shares of Enbridge during the 4th quarter worth approximately $30,000. Imprint Wealth LLC bought a new stake in shares of Enbridge during the 3rd quarter worth approximately $31,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Enbridge during the 4th quarter worth approximately $38,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $66.50.

Enbridge Price Performance

ENB stock opened at $56.49 on Monday. The company has a 50 day simple moving average of $54.83 and a 200 day simple moving average of $51.67. The stock has a market cap of $123.35 billion, a price-to-earnings ratio of 26.52 and a beta of 0.58. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.81 and a quick ratio of 0.73.

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, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the prior year, the company earned $1.03 EPS. Research analysts anticipate that Enbridge Inc will post 2.18 EPS for the current fiscal year.

Enbridge Announces Dividend

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