30,361 Shares in Enbridge Inc $ENB Bought by K.J. Harrison & Partners Inc

Key Points

• K.J. Harrison & Partners acquired 30,361 Enbridge shares in the second quarter, valued at approximately $1.64 million. Institutional investors collectively own 54.6% of the company.
• Enbridge reported quarterly earnings of $0.46 per share, beating estimates of $0.43, while revenue reached $9.70 billion versus the $8.67 billion consensus estimate.
• The company declared a quarterly dividend of $0.97 per share, equivalent to an annualized $3.88 payout and a 7.7% yield. Analysts maintain a consensus “Hold” rating with a $67 price target.

K.J. Harrison & Partners Inc bought a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 30,361 shares of the pipeline company's stock, valued at approximately $1,643,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Triumph Capital Management purchased a new stake in Enbridge in the 3rd quarter valued at about $26,000. Arlington Trust Co LLC boosted its stake in shares of Enbridge by 114.6% in the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock worth $27,000 after buying an additional 267 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge in the 3rd quarter worth approximately $28,000. Inspire Investing LLC bought a new position in shares of Enbridge in the fourth quarter valued at approximately $29,000. Finally, Garner Asset Management Corp bought a new position in shares of Enbridge in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Trading Down 0.5%

Shares of Enbridge stock opened at $50.63 on Tuesday. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45. The stock's 50-day simple moving average is $54.57 and its 200 day simple moving average is $53.97. The stock has a market capitalization of $110.58 billion, a P/E ratio of 27.07 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The firm had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter last year, the business earned $0.65 earnings per share. As a group, research analysts anticipate that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Friday, August 14th. Enbridge's dividend payout ratio is presently 147.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ENB shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Enbridge in a research report on Friday, May 22nd. Wolfe Research set a $50.00 price target on shares of Enbridge in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Enbridge in a research report on Monday, May 11th. TD Securities restated a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Sunday, July 12th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.00.

Enbridge 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.

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