Sage Investment Counsel LLC Acquires Shares of 26,767 Enbridge Inc. (NYSE:ENB)

Sage Investment Counsel LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to the company in its most recent Form 13F filing 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 makes up approximately 1.5% of Sage Investment Counsel LLC's investment portfolio, making the stock its 14th largest holding.

Several 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 position in shares of Enbridge by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company's stock valued at $984,205,000 after purchasing an additional 936,863 shares during the period. National Bank of Canada FI boosted its stake in Enbridge by 12.8% during 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company's stock worth $655,556,000 after acquiring an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company's stock worth $498,734,000 after acquiring an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company's stock valued at $416,431,000 after acquiring an additional 985,546 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ENB. Royal Bank of Canada lifted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $67.00.

Enbridge Trading Down 0.1 %

Shares of ENB traded down $0.05 during midday trading on Monday, hitting $42.68. The stock had a trading volume of 4,910,516 shares, compared to its average volume of 4,420,203. The business has a 50-day simple moving average of $43.44 and a two-hundred day simple moving average of $42.04. The firm has a market cap of $93.00 billion, a P/E ratio of 24.81, 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. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were issued a dividend of $0.67 per share. The ex-dividend date was Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.28%. Enbridge's dividend payout ratio is 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.