Enbridge Inc $ENB Shares Sold by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 50.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,559 shares of the pipeline company’s stock after selling 62,842 shares during the period. K.J. Harrison & Partners Inc’s holdings in Enbridge were worth $3,109,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ENB. Norges Bank purchased a new position in Enbridge in the second quarter worth approximately $1,113,368,000. Canada Pension Plan Investment Board raised its position in Enbridge by 38.7% in the second quarter. Canada Pension Plan Investment Board now owns 13,213,321 shares of the pipeline company’s stock valued at $599,556,000 after purchasing an additional 3,687,334 shares during the period. Vanguard Group Inc. lifted its stake in shares of Enbridge by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company’s stock valued at $4,371,580,000 after purchasing an additional 3,217,961 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Enbridge by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 17,785,430 shares of the pipeline company’s stock worth $818,620,000 after purchasing an additional 2,989,992 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Enbridge during the 2nd quarter worth about $132,105,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Enbridge Price Performance

Shares of ENB opened at $52.42 on Thursday. The company has a market cap of $114.37 billion, a P/E ratio of 22.79 and a beta of 0.69. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $54.19. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The firm’s 50 day moving average price is $48.70 and its 200 day moving average price is $48.29.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $17.18 billion during the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter in the previous year, the firm posted $0.75 earnings per share. On average, research analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 7.4%. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio is 120.87%.

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.