Dixon Mitchell Investment Counsel Inc. Has $41,000 Stake in Enbridge Inc. (NYSE:ENB)

Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 149.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other institutional investors have also recently bought and sold shares of the business. Foresight Capital Management Advisors Inc. grew its holdings in Enbridge by 6.6% during the 4th quarter. Foresight Capital Management Advisors Inc. now owns 76,389 shares of the pipeline company’s stock worth $3,241,000 after acquiring an additional 4,754 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 230 shares in the last quarter. Burney Co. grew its stake in shares of Enbridge by 4.7% during the fourth quarter. Burney Co. now owns 6,669 shares of the pipeline company’s stock valued at $283,000 after purchasing an additional 300 shares during the last quarter. M. Kraus & Co increased its holdings in shares of Enbridge by 1.3% in the fourth quarter. M. Kraus & Co now owns 142,781 shares of the pipeline company’s stock valued at $6,058,000 after purchasing an additional 1,895 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in Enbridge by 21.3% in the 4th quarter. Park Avenue Securities LLC now owns 43,030 shares of the pipeline company’s stock worth $1,826,000 after purchasing an additional 7,568 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ENB shares. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, TD Securities initiated coverage on shares of Enbridge in a report on Wednesday. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

Shares of ENB opened at $44.24 on Thursday. The stock has a market cap 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. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $44.74. The stock’s 50-day moving average price is $42.62 and its two-hundred day moving average price is $40.42. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the firm earned $0.46 EPS. On average, equities analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current year.

Enbridge Cuts Dividend

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

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.