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

Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 1,197 shares of the pipeline company’s stock, valued at approximately $43,000.

A number of other hedge funds have also recently added to or reduced their stakes in ENB. Vanguard Group Inc. boosted its holdings in Enbridge by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock worth $2,991,585,000 after buying an additional 1,561,598 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after acquiring an additional 7,536,678 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Enbridge by 2.5% in the 4th quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company’s stock worth $1,271,115,000 after acquiring an additional 846,796 shares during the period. Canoe Financial LP increased its stake in Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

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

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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 firm had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. On average, equities research analysts expect that Enbridge Inc. will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 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.