Intact Investment Management Inc. Boosts Stock Position in Enbridge Inc. (NYSE:ENB)

Intact Investment Management Inc. raised its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 22.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,213,155 shares of the pipeline company's stock after buying an additional 409,864 shares during the quarter. Enbridge makes up approximately 3.2% of Intact Investment Management Inc.'s portfolio, making the stock its 4th biggest position. Intact Investment Management Inc. owned approximately 0.10% of Enbridge worth $79,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Wellington Management Group LLP raised its stake in shares of Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company's stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company's stock worth $2,704,715,000 after purchasing an additional 4,400,848 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Enbridge by 36.9% during the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company's stock worth $348,110,000 after purchasing an additional 2,814,200 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Enbridge by 13.9% during the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company's stock worth $710,961,000 after purchasing an additional 2,756,079 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Enbridge by 11.3% during the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company's stock worth $689,270,000 after purchasing an additional 2,101,021 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

NYSE:ENB traded down $0.44 during trading hours on Friday, hitting $35.82. The company's stock had a trading volume of 4,385,230 shares, compared to its average volume of 6,269,155. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The company has a market capitalization of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.40 and a beta of 0.84. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $40.30. The business's 50-day moving average is $35.19 and its two-hundred day moving average is $34.82.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. As a group, research analysts anticipate that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. This is a positive change from Enbridge's previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.56%. Enbridge's dividend payout ratio is 129.05%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ENB. Stifel Nicolaus began coverage on Enbridge in a research note on Thursday, January 18th. They set a "hold" rating for the company. Jefferies Financial Group began coverage on Enbridge in a research note on Tuesday, February 27th. They set a "buy" rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $55.20.

About Enbridge

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.