The Manufacturers Life Insurance Company Has $804.85 Million Holdings in Enbridge Inc. (NYSE:ENB)

The Manufacturers Life Insurance Company decreased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,800,169 shares of the pipeline company’s stock after selling 1,125,338 shares during the quarter. Enbridge accounts for approximately 0.7% of The Manufacturers Life Insurance Company’s holdings, making the stock its 25th largest holding. The Manufacturers Life Insurance Company owned 0.91% of Enbridge worth $804,846,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. lifted its stake in Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the last quarter. Associated Banc Corp raised its stake in Enbridge by 3.6% in the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 248 shares during the period. Centaurus Financial Inc. lifted its holdings in Enbridge by 1.7% during the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after purchasing an additional 256 shares during the last quarter. First PREMIER Bank boosted its holdings in shares of Enbridge by 1.7% during the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after acquiring an additional 257 shares during the period. Finally, Keudell Morrison Wealth Management boosted its stake in Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company’s stock valued at $822,000 after purchasing an additional 277 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.7 %

NYSE ENB opened at $42.97 on Tuesday. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.70. The company has a market cap of $93.58 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 4.21 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business has a 50 day moving average price of $41.43 and a 200-day moving average price of $38.73.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, equities analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is currently 121.76%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ENB shares. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

Enbridge Company 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.