JCIC Asset Management Inc. Increases Stock Position in Enbridge Inc. (NYSE:ENB)

JCIC Asset Management Inc. boosted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 200,585 shares of the pipeline company’s stock after purchasing an additional 2,698 shares during the quarter. Enbridge comprises about 3.4% of JCIC Asset Management Inc.’s holdings, making the stock its 8th biggest holding. JCIC Asset Management Inc.’s holdings in Enbridge were worth $8,508,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. CIBC Asset Management Inc grew its holdings in shares of Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Enbridge by 3.7% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after purchasing an additional 827,540 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Enbridge by 3.6% in the 2nd quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock worth $665,655,000 after purchasing an additional 644,526 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after buying an additional 176,733 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on ENB. Royal Bank of Canada restated an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

Shares of ENB stock traded up $0.15 during trading hours on Monday, reaching $43.63. 2,398,007 shares of the company traded hands, compared to its average volume of 3,000,706. The firm has a 50-day moving average price of $42.51 and a 200 day moving average price of $40.30. The company has a market cap of $95.04 billion, a P/E ratio of 20.20, a P/E/G ratio of 4.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, sell-side analysts predict that Enbridge Inc. will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.14%. Enbridge’s dividend payout ratio (DPR) is 124.07%.

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.