Enbridge Inc. (NYSE:ENB) Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 20.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,823 shares of the pipeline company’s stock after selling 27,895 shares during the period. K.J. Harrison & Partners Inc’s holdings in Enbridge were worth $4,584,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in Enbridge by 4,120.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock worth $185,655,000 after purchasing an additional 4,463,335 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the period. National Bank of Canada FI lifted its position in shares of Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its stake in Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after purchasing an additional 1,472,789 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada raised their price objective on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Stock Up 0.3 %

Enbridge stock opened at $41.78 on Thursday. The firm has a market cap of $91.04 billion, a PE ratio of 24.29, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm’s 50 day moving average price is $43.38 and its two-hundred day moving average price is $41.95. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the business posted $0.64 earnings per share. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 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.