26,767 Shares in Enbridge Inc. (NYSE:ENB) Bought by Sage Investment Counsel LLC

Sage Investment Counsel LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,767 shares of the pipeline company’s stock, valued at approximately $1,136,000. Enbridge accounts for about 1.5% of Sage Investment Counsel LLC’s holdings, making the stock its 14th biggest position.

Other hedge funds also recently made changes to their positions in the company. McIlrath & Eck LLC increased its position in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new position in Enbridge during the 4th quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in Enbridge during the 3rd quarter valued at $37,000. Dixon Mitchell Investment Counsel Inc. increased its position in Enbridge by 149.9% during the 4th 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 during the period. Finally, Legend Financial Advisors Inc. purchased a new position in Enbridge during the 4th quarter valued at $42,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of research analyst reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.00.

Enbridge Stock Performance

Shares of ENB stock opened at $42.73 on Friday. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The stock has a market cap of $93.11 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company’s fifty day moving average price is $43.42 and its 200-day moving average price is $41.98.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

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.