Enbridge Inc. (NYSE:ENB) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 22.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,213,155 shares of the pipeline company’s stock after buying an additional 409,864 shares during the period. Enbridge comprises about 3.2% of Intact Investment Management Inc.’s portfolio, making the stock its 4th biggest holding. Intact Investment Management Inc. owned about 0.10% of Enbridge worth $79,674,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after buying an additional 4,400,848 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Enbridge by 2.2% during the 3rd quarter. TD Asset Management Inc now owns 30,213,082 shares of the pipeline company’s stock worth $1,006,729,000 after buying an additional 664,057 shares in the last quarter. Bank of Nova Scotia increased its holdings in Enbridge by 5.1% in the 3rd quarter. Bank of Nova Scotia now owns 28,085,040 shares of the pipeline company’s stock worth $931,516,000 after purchasing an additional 1,353,753 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Enbridge by 13.9% in the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock worth $710,961,000 after purchasing an additional 2,756,079 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ENB shares. Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus began coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Trading Down 1.2 %

ENB traded down $0.44 on Friday, hitting $35.82. The company had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. The company has a market cap of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.40 and a beta of 0.84. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $34.80.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. Equities research analysts expect that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. The ex-dividend date is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 129.05%.

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.