TD Asset Management Inc. Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

TD Asset Management Inc. lifted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.8% in the 4th quarter, HoldingsChannel reports. The firm owned 38,752,759 shares of the pipeline company’s stock after purchasing an additional 1,040,799 shares during the quarter. Enbridge makes up about 1.5% of TD Asset Management Inc.’s portfolio, making the stock its 11th largest position. TD Asset Management Inc.’s holdings in Enbridge were worth $1,643,935,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McIlrath & Eck LLC lifted its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new position in shares of Enbridge during the 4th quarter valued at about $29,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after buying an additional 580 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in Enbridge during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $44.25 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company’s fifty day moving average price is $43.48 and its 200 day moving average price is $42.39. The stock has a market capitalization of $96.42 billion, a P/E ratio of 25.72, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ENB. CIBC restated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, 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.