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

PCJ Investment Counsel Ltd. boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,830 shares of the pipeline company’s stock after acquiring an additional 4,460 shares during the period. Enbridge makes up approximately 1.7% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 19th largest holding. PCJ Investment Counsel Ltd.’s holdings in Enbridge were worth $4,893,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust bought a new position in shares of Enbridge during the 2nd quarter valued at about $52,000. Keystone Financial Services increased its stake in Enbridge by 7.1% during the 2nd quarter. Keystone Financial Services now owns 7,135 shares of the pipeline company’s stock worth $323,000 after purchasing an additional 473 shares in the last quarter. Aviva PLC raised its holdings in Enbridge by 6.7% during the 2nd quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock worth $80,959,000 after buying an additional 112,305 shares during the period. AGF Management Ltd. lifted its stake in Enbridge by 21.8% in the second quarter. AGF Management Ltd. now owns 3,549,041 shares of the pipeline company’s stock valued at $174,935,000 after buying an additional 635,341 shares in the last quarter. Finally, Stokes Family Office LLC boosted its holdings in shares of Enbridge by 6.4% in the second quarter. Stokes Family Office LLC now owns 6,775 shares of the pipeline company’s stock valued at $307,000 after buying an additional 407 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ENB shares. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Argus upped their target price on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, CIBC cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Stock Performance

Shares of Enbridge stock opened at $47.69 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market cap 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. The company has a 50 day moving average of $48.28 and a 200-day moving average of $46.75. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $8.45 billion. 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 earnings per share for the current fiscal year.

Enbridge Increases Dividend

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

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.