TD Private Client Wealth LLC Sells 14,068 Shares of Enbridge Inc $ENB

TD Private Client Wealth LLC reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 116,307 shares of the pipeline company’s stock after selling 14,068 shares during the quarter. TD Private Client Wealth LLC’s holdings in Enbridge were worth $5,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. Tsfg LLC boosted its position in shares of Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares during the last quarter. Triumph Capital Management bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $28,000. Garner Asset Management Corp bought a new position in shares of Enbridge during the 4th quarter valued at approximately $30,000. Finally, Imprint Wealth LLC bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $31,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

ENB stock opened at $56.37 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The business’s fifty day simple moving average is $53.93 and its two-hundred day simple moving average is $50.49. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $56.41. The firm has a market cap of $123.09 billion, a price-to-earnings ratio of 26.46 and a beta of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. During the same quarter last year, the firm posted $1.03 earnings per share. Analysts predict that Enbridge Inc will post 2.17 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $0.97 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Analyst Ratings Changes

ENB has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

About Enbridge

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.