St. James Investment Company LLC grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 10.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,836,892 shares of the pipeline company’s stock after acquiring an additional 170,628 shares during the period. Enbridge comprises 8.3% of St. James Investment Company LLC’s investment portfolio, making the stock its biggest position. St. James Investment Company LLC owned approximately 0.11% of Enbridge worth $71,841,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors raised its position in shares of Enbridge by 7.8% during the 3rd quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock valued at $1,721,048,000 after buying an additional 2,984,467 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Enbridge by 11.5% during the 4th quarter. CIBC Asset Management Inc now owns 21,964,753 shares of the pipeline company’s stock valued at $862,620,000 after buying an additional 2,260,733 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Enbridge by 149.5% during the 4th quarter. APG Asset Management N.V. now owns 2,513,142 shares of the pipeline company’s stock valued at $82,093,000 after buying an additional 1,505,803 shares in the last quarter. TD Asset Management Inc. raised its position in shares of Enbridge by 3.4% during the 3rd quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock valued at $1,871,055,000 after buying an additional 1,495,767 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its position in Enbridge by 40.5% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,502,208 shares of the pipeline company’s stock worth $179,227,000 after purchasing an additional 1,298,717 shares during the period. 62.62% of the stock is owned by hedge funds and other institutional investors.
Enbridge Inc (NYSE:ENB) traded down $0.21 during trading hours on Wednesday, reaching $34.29. 3,453,442 shares of the company traded hands, compared to its average volume of 2,914,787. Enbridge Inc has a 1-year low of $33.26 and a 1-year high of $43.24. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.50. The company has a market capitalization of $58,250.00, a price-to-earnings ratio of 22.16, a P/E/G ratio of 3.15 and a beta of 0.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Thursday, February 15th will be paid a dividend of $0.5278 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.11 annualized dividend and a yield of 6.16%. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s payout ratio is presently 123.87%.
A number of equities analysts recently commented on ENB shares. Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. GMP Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Bank of America started coverage on shares of Enbridge in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Morgan Stanley decreased their price objective on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Finally, Canaccord Genuity restated a “buy” rating and issued a $54.00 price objective on shares of Enbridge in a research report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Enbridge presently has an average rating of “Hold” and an average target price of $51.25.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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