Dixon Mitchell Investment Counsel Inc. Buys 580 Shares of Enbridge Inc. (NYSE:ENB)

Dixon Mitchell Investment Counsel Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 149.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 967 shares of the pipeline company’s stock after acquiring an additional 580 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in Enbridge were worth $41,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthspire Advisors LLC bought a new position in Enbridge during the 2nd quarter worth about $240,000. J.W. Cole Advisors Inc. grew its holdings in shares of Enbridge by 3.8% during the second quarter. J.W. Cole Advisors Inc. now owns 13,496 shares of the pipeline company’s stock worth $480,000 after buying an additional 488 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Enbridge by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock valued at $86,399,000 after buying an additional 25,717 shares during the last quarter. Argent Trust Co lifted its stake in Enbridge by 0.3% in the 2nd quarter. Argent Trust Co now owns 101,559 shares of the pipeline company’s stock valued at $3,614,000 after acquiring an additional 343 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in Enbridge by 4.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 91,941 shares of the pipeline company’s stock worth $3,272,000 after acquiring an additional 3,894 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Down 0.2 %

Shares of NYSE:ENB opened at $44.24 on Thursday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $44.74. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $96.37 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The company has a 50-day simple moving average of $42.62 and a 200 day simple moving average of $40.42.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. Sell-side analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.06%. Enbridge’s dividend payout ratio is currently 121.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price of $63.00.

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.