Enbridge Inc. (NYSE:ENB) is QV Investors Inc.’s 2nd Largest Position

QV Investors Inc. cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,558,177 shares of the pipeline company’s stock after selling 380 shares during the period. Enbridge makes up 6.8% of QV Investors Inc.’s investment portfolio, making the stock its 2nd largest position. QV Investors Inc. owned about 0.07% of Enbridge worth $66,099,000 as of its most recent filing with the SEC.

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

Enbridge Price Performance

Shares of NYSE:ENB traded up $0.14 during trading hours on Monday, hitting $43.62. 1,771,310 shares of the company’s stock traded hands, compared to its average volume of 2,924,481. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $44.13. The company has a market cap of $95.02 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 4.14 and a beta of 0.93. The company’s fifty day simple moving average is $42.51 and its two-hundred day simple moving average is $40.30. 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 quarterly earnings data 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 company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the firm earned $0.46 EPS. As a group, equities analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.14%. Enbridge’s payout ratio is presently 124.07%.

Analyst Upgrades and Downgrades

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