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

Scheer Rowlett & Associates Investment Management Ltd. increased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 901,510 shares of the pipeline company’s stock after acquiring an additional 17,830 shares during the quarter. Enbridge comprises approximately 2.6% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 16th biggest position. Scheer Rowlett & Associates Investment Management Ltd.’s holdings in Enbridge were worth $40,906,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ENB. Goldman Sachs Group Inc. increased its stake in shares of Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares in the last quarter. Nuveen LLC bought a new position in Enbridge in the 1st quarter worth $208,490,000. Canada Pension Plan Investment Board increased its stake in Enbridge by 39.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 9,525,987 shares of the pipeline company’s stock worth $421,675,000 after buying an additional 2,707,068 shares in the last quarter. Maple Brown Abbott Ltd purchased a new stake in Enbridge in the 1st quarter worth $77,976,000. Finally, JPMorgan Chase & Co. raised its holdings in Enbridge by 10.5% during the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after acquiring an additional 1,680,116 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $47.69 on Friday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The business has a 50 day simple moving average of $48.28 and a two-hundred day simple moving average of $46.76. The stock has a market capitalization of $104.00 billion, a PE ratio of 23.49, a P/E/G ratio of 4.31 and a beta of 0.76.

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

Enbridge Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on ENB. Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Wednesday. Argus lifted their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average target price of $60.50.

Enbridge 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.