Enbridge Inc (NYSE:ENB) Stake Cut by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc reduced its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 48.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,026 shares of the pipeline company's stock after selling 51,797 shares during the period. K.J. Harrison & Partners Inc's holdings in Enbridge were worth $2,438,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. GQG Partners LLC raised its stake in shares of Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock worth $3,151,500,000 after purchasing an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Enbridge by 2.8% during the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock worth $1,643,935,000 after purchasing an additional 1,040,799 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Enbridge during the 4th quarter worth about $909,415,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup assumed coverage on Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge has an average rating of "Hold" and an average target price of $67.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $44.75 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The firm has a market cap of $97.58 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 4.22 and a beta of 0.81. The business's 50-day simple moving average is $45.82 and its 200-day simple moving average is $44.13. Enbridge Inc has a 52 week low of $35.10 and a 52 week high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter last year, the firm posted $0.92 EPS. As a group, equities research analysts expect that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a yield of 6.07%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend payout ratio (DPR) is 140.21%.

Enbridge Profile

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.

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