Enbridge Inc. (NYSE:ENB) is JCIC Asset Management Inc.’s 8th Largest Position

JCIC Asset Management Inc. boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,585 shares of the pipeline company’s stock after purchasing an additional 2,698 shares during the period. Enbridge comprises 3.4% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. JCIC Asset Management Inc.’s holdings in Enbridge were worth $8,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Enbridge by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock valued at $821,331,000 after acquiring an additional 827,540 shares during the period. Toronto Dominion Bank raised its stake in shares of Enbridge by 3.6% during the second quarter. Toronto Dominion Bank now owns 18,703,423 shares of the pipeline company’s stock valued at $665,655,000 after acquiring an additional 644,526 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Enbridge by 1.1% in the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after purchasing an additional 176,733 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.3 %

Shares of ENB traded up $0.15 on Monday, reaching $43.63. The stock had a trading volume of 2,398,007 shares, compared to its average volume of 3,000,706. The firm has a market capitalization of $95.04 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The company has a 50-day simple moving average of $42.51 and a 200-day simple moving average of $40.30. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.13. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the business posted $0.46 EPS. Sell-side analysts predict that Enbridge Inc. will post 2.03 EPS 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 dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is 124.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ENB shares. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.00.

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.