Scheer Rowlett & Associates Investment Management Ltd. Buys 17,830 Shares of Enbridge Inc $ENB

Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 901,510 shares of the pipeline company’s stock after buying an additional 17,830 shares during the quarter. Enbridge makes up approximately 2.6% of Scheer Rowlett & Associates Investment Management Ltd.’s investment portfolio, making the stock its 16th biggest holding. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Enbridge were worth $40,906,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Dagco Inc. bought a new position in Enbridge during the first quarter valued at $25,000. Whipplewood Advisors LLC boosted its stake in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares during the period. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the 1st quarter valued at about $28,000. Accent Capital Management LLC bought a new position in Enbridge during the 1st quarter valued at about $30,000. Finally, FNY Investment Advisers LLC purchased a new stake in Enbridge in the 2nd quarter worth about $36,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Up 1.7%

Shares of NYSE:ENB opened at $47.69 on Friday. The business’s 50 day moving average is $48.28 and its 200 day moving average is $46.76. The stock has a market cap of $104.00 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ENB. Cibc World Mkts lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.50.

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.