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The Manufacturers Life Insurance Company expands its holdings in Enbridge Inc. (NYSE:ENB)

The Manufacturers Life Insurance Company expands its holdings in Enbridge Inc. (NYSE:ENB)

The Manufacturers Life Insurance Company increased the percentage of Enbridge Inc. (NYSE: ENB) (TSE: ENB) shares that it owned by 3.6% during the third quarter, as stated in the most recent SEC filing that the company has made. After the end of the period, the mutual fund had a total holding of 20,227,562 shares of the pipeline company’s stock in its portfolio. During this period, the fund had accumulated a total of 693,533 additional shares. The Manufacturers Life Insurance Company had a holding in Enbridge equivalent to 1.00% of the company’s total shares at the end of the most recent reporting period. The total value of this holding was $757,122,000.

Alterations have also been made to the holdings of hedge funds and other types of institutional investors, such as pension funds. During the second quarter, The Financial Connections Group Inc. increased the amount of Enbridge stock it owns by 136.4%, bringing its total ownership percentage to 100%. The most recent fiscal quarter saw Financial Connections Group Inc. acquire an additional 360 shares of the pipeline company’s stock, bringing the total number of shares owned by the company to 624, with a market value of $26,000 for those shares. Pin Oak Investment Advisors Inc. increased the amount of Enbridge stock owned by 434.8 percent over the second quarter. Pin Oak Investment Advisors Inc. currently possesses 615 pipeline company stock shares, with a combined value of $26,000. This number reflects an increase of 500 additional shares compared to the acquisitions made in the prior quarter. Burleson & Company LLC increased the amount of Enbridge stock owned by 428.5 percent over the third quarter. Burleson & Company LLC is now the pipeline company’s direct owner of 740 shares. Each share has a value of $27,000, making the total value of Burleson & Company LLC’s ownership stake $270,000. This is a direct result of the company’s purchase of 600 additional shares during the most recent fiscal quarter. The investment portfolio of McClarren Financial Advisors, Inc. was bolstered by adding approximately $29,000 worth of new Enbridge shares during the third quarter. TFC Financial Management purchased a new holding in Enbridge during the third quarter for approximately $30,000, which brings us to our final point. To the tune of 49.25 percent of the company’s shares, hedge funds and other institutional investors are the owners.

Recent reports on the stock that several research analysts have been following closely have been produced. StockNews.com began reporting on the Enbridge share prices on October 12, a Wednesday. They recommended that shareholders “hold” their shares of the company. Scotiabank put out the report on Thursday, October 20, stating that the company had reduced its price estimate on Enbridge shares from C$62.00 to C$56.00. The report was issued in response to a market move earlier this week. Credit Suisse Group stated in a research report made public on Friday, December 9, that they were decreasing their price objective on Enbridge shares from C$54.00 to C$52.00. Following the publication of a study made available to the public on November 7, National Bank Financial downgraded the rating of “outperform” that they had previously given to Enbridge to “sector perform.” Morgan Stanley lowered their price target on Enbridge shares from C$67.00 to C$64.00 in a research note published on Wednesday, October 19. The final and most significant adjustment was made here. Two stock analysts have given the stock a buy recommendation, while four other analysts have recommended that investors hold onto their shares. The stock is currently rated “Hold” across the board, and an average price objective of $59.40 has been set for it, according to data sourced from Bloomberg.com.

On Thursday, trading began for ENB’s stock for $41.19 per share. The day’s first trading day was Thursday. The stock is currently trading at $40.13, slightly above both the 50-day and the 200-day simple moving averages for the stock, which are both located at $40.66. The company has a price-to-earnings ratio of 19.52, a price-to-earnings-to-growth ratio of 2.99, and a beta value of 0.82. The market capitalization of the company is $83.41 billion. Enbridge Inc. reached a one-year high of $47.67 and a one-year low of $35.02 during the period covered by this report. The current ratio is 0.60, the quick ratio is 0.47, and the debt-to-equity ratio is 1.22. These numbers represent the ratios’ respective values.

On November 4, Enbridge (NYSE: ENB) (TSE: ENB) announced the release of its most recent quarterly results report, making it accessible to the general public. The pipeline company reported quarterly earnings per share of $0.51, which is $0.01 higher than the estimated $0.50 per share made by the market. The company reported total revenues of $8.87 billion for the period in question. The net margin and return on equity for Enbridge came in rather high, coming in at 11.07% and 10.60%, respectively. Both of these figures are above average. The current financial year is expected to result in earnings of $2.16 per share for Enbridge Inc., according to projections made by market analysts.

In addition, the corporation announced that it would distribute a quarterly dividend beginning on March 1 of this year. Investors who have their information “recorded” as of February 15 will be eligible to receive the dividend payment of $0.6538. The date that the ex-dividend will take place will be on Tuesday, February 14. As a result of the fact that Enbridge’s most recent quarterly dividend was $0.63, we can conclude that this is an increase. This equates to an annual dividend payment of 2.62 dollars and a dividend yield of 6.35 percent. The dividend payout ratio that is currently kept at 122.75% by the company Enbridge is as follows:

Enbridge Inc. is in the business of providing infrastructure for the energy industry. The five business segments that make up the company are as follows: the section dealing with liquid pipelines; the sector dealing with gas transmission and midstream; the section dealing with gas distribution and storage; the section dealing with renewable power production; and the section dealing with energy services. The management of pipelines and associated terminals across the United States and Canada is the responsibility of the Liquids Pipelines sector. This industry makes it possible to transport numerous grades of crude oil and various other types of liquid hydrocarbon.

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