Dixon Mitchell Investment Counsel Inc. Buys New Position in Enbridge Inc. (NYSE:ENB)

Dixon Mitchell Investment Counsel Inc. purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,197 shares of the pipeline company’s stock, valued at approximately $43,000.

Other institutional investors have also recently made changes to their positions in the company. S.E.E.D. Planning Group LLC grew its holdings in shares of Enbridge by 81.1% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after purchasing an additional 102,850 shares during the last quarter. Clarius Group LLC grew its stake in shares of Enbridge by 25.2% during the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after buying an additional 1,617 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Enbridge by 5.7% in the fourth quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock worth $318,000 after buying an additional 473 shares during the period. Vanguard Group Inc. lifted its stake in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Enbridge by 323.4% during the 4th quarter. International Assets Investment Management LLC now owns 665,413 shares of the pipeline company’s stock valued at $239,680,000 after acquiring an additional 508,258 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 1.5 %

ENB stock traded up $0.53 during midday trading on Tuesday, hitting $35.81. The company had a trading volume of 4,763,211 shares, compared to its average volume of 5,682,313. The stock has a market cap of $76.40 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 3.34 and a beta of 0.92. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The stock’s 50 day moving average price is $36.01 and its 200 day moving average price is $35.63. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.09. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. As a group, equities research analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were paid a $0.677 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.56%. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

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.