PCJ Investment Counsel Ltd. Has $4.89 Million Stock Holdings in Enbridge Inc $ENB

PCJ Investment Counsel Ltd. boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 107,830 shares of the pipeline company’s stock after acquiring an additional 4,460 shares during the quarter. Enbridge makes up about 1.7% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 19th biggest position. PCJ Investment Counsel Ltd.’s holdings in Enbridge were worth $4,893,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. IFP Advisors Inc increased its holdings in shares of Enbridge by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after acquiring an additional 221 shares during the period. Loudon Investment Management LLC grew its position in Enbridge by 1.1% during the 1st quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after purchasing an additional 240 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its stake in Enbridge by 1.7% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after acquiring an additional 242 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its holdings in shares of Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after purchasing an additional 243 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of Enbridge by 30.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,107 shares of the pipeline company’s stock valued at $50,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ENB. Zacks Research cut shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Scotiabank restated a “sector perform” rating on shares of Enbridge in a report on Monday, October 20th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Finally, Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.50.

Enbridge Price Performance

Shares of NYSE ENB opened at $47.69 on Friday. The stock’s 50-day simple moving average is $48.28 and its 200-day simple moving average is $46.75. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The firm has a market capitalization of $104.00 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the business earned $0.55 earnings per share. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.9425 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. Enbridge’s dividend payout ratio is currently 132.02%.

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.