K.J. Harrison & Partners Inc Sells 12,859 Shares of Enbridge Inc $ENB

K.J. Harrison & Partners Inc trimmed its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,976 shares of the pipeline company’s stock after selling 12,859 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Enbridge were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Triumph Capital Management acquired a new position in shares of Enbridge in the 3rd quarter worth approximately $26,000. Turning Point Benefit Group Inc. acquired a new position in Enbridge in the third quarter valued at $28,000. Inspire Investing LLC bought a new stake in Enbridge during the fourth quarter valued at $29,000. Imprint Wealth LLC acquired a new stake in Enbridge during the 3rd quarter worth about $31,000. Finally, Garner Asset Management Corp acquired a new stake in Enbridge during the 4th quarter worth about $30,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 0.1%

NYSE ENB opened at $54.05 on Friday. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The business has a 50 day moving average price of $55.32 and a 200-day moving average price of $52.38. The company has a market cap of $118.04 billion, a price-to-earnings ratio of 25.37 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same period last year, the business earned $1.03 EPS. As a group, equities analysts expect that Enbridge Inc will post 2.16 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 7.2%. Enbridge’s dividend payout ratio is 133.80%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Company Profile

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.