Sage Investment Counsel LLC Invests $1.14 Million in Enbridge Inc. (NYSE:ENB)

Sage Investment Counsel LLC bought a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,767 shares of the pipeline company’s stock, valued at approximately $1,136,000. Enbridge makes up about 1.5% of Sage Investment Counsel LLC’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. McIlrath & Eck LLC raised its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in Enbridge in the fourth quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Enbridge in the third quarter valued at approximately $37,000. Dixon Mitchell Investment Counsel Inc. raised its stake in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 580 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new stake in Enbridge in the fourth quarter valued at approximately $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 2.4 %

Shares of NYSE ENB opened at $42.73 on Friday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The firm’s 50 day simple moving average is $43.42 and its two-hundred day simple moving average is $41.98. The stock has a market capitalization of $93.11 billion, a P/E ratio of 24.84, a PEG ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the business earned $0.64 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.27%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 155.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ENB. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.00.

Enbridge 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.