QV Investors Inc. Buys Shares of 1,179,521 Enbridge Inc $ENB

QV Investors Inc. bought a new stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,179,521 shares of the pipeline company’s stock, valued at approximately $59,519,000. Enbridge accounts for about 5.2% of QV Investors Inc.’s portfolio, making the stock its 4th biggest holding. QV Investors Inc. owned 0.05% of Enbridge at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC grew its stake in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 236 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in Enbridge by 112.4% in the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares during the period. True Wealth Design LLC grew its position in Enbridge by 588.2% in the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock valued at $30,000 after buying an additional 500 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Enbridge during the 2nd quarter valued at about $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Enbridge during the 2nd quarter valued at about $31,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.3%

Enbridge stock opened at $47.45 on Friday. The firm has a market cap of $103.52 billion, a price-to-earnings ratio of 26.07 and a beta of 0.68. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The firm’s 50 day moving average price is $47.39 and its two-hundred day moving average price is $47.39. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The company had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same quarter last year, the company posted $0.55 EPS. On average, research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a $0.97 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.2%. Enbridge’s dividend payout ratio is 147.80%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Scotiabank raised Enbridge from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, January 16th. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, CIBC lowered Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average price target of $63.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.