K.J. Harrison & Partners Inc Sells 20,724 Shares of Enbridge Inc $ENB

Key Points

• K.J. Harrison & Partners cut its stake in Enbridge by 33.1% in Q4, selling 20,724 shares and leaving the fund with 41,835 shares valued at $2.01 million at period end.
• Enbridge declared a quarterly dividend of $0.97 ($3.88 annualized) yielding 7.2%, payable June 1 with record/ex-dividend dates on May 15, while its dividend payout ratio is elevated at 120.87%.
• The company beat Q results with EPS of $0.63 vs. $0.60 expected and revenue of $17.18 billion, and analysts rate the stock a "Moderate Buy" with a consensus target of about $65 (RBC raised its target to $76).

K.J. Harrison & Partners Inc lessened its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 33.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 41,835 shares of the pipeline company's stock after selling 20,724 shares during the period. K.J. Harrison & Partners Inc's holdings in Enbridge were worth $2,005,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tsfg LLC grew its holdings in shares of Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock worth $25,000 after purchasing an additional 379 shares during the last quarter. Triumph Capital Management bought a new position in Enbridge in the third quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new position in Enbridge in the third quarter valued at about $28,000. Imprint Wealth LLC bought a new position in Enbridge in the third quarter valued at about $31,000. Finally, Garner Asset Management Corp bought a new position in Enbridge in the fourth quarter valued at about $30,000. Institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

Shares of ENB opened at $54.24 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $55.49. The stock has a market cap of $118.43 billion, a P/E ratio of 23.58 and a beta of 0.59. The stock's 50-day moving average price is $53.66 and its two-hundred day moving average price is $50.05.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the business earned $0.75 earnings per share. On average, equities analysts predict that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.2%. Enbridge's dividend payout ratio (DPR) is 120.87%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ENB shares. Royal Bank Of Canada raised their price target on Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, February 17th. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Scotiabank reiterated an "outperform" rating on shares of Enbridge in a report on Tuesday, February 17th. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Weiss Ratings upgraded Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of "Moderate Buy" and a consensus target price of $65.00.

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.

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