Enbridge Inc. (NYSE:ENB) Holdings Decreased by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc cut its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,823 shares of the pipeline company’s stock after selling 27,895 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Enbridge were worth $4,584,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ENB. Assenagon Asset Management S.A. boosted its holdings in shares of Enbridge by 19.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock valued at $3,054,000 after buying an additional 12,431 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in Enbridge by 0.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock worth $17,734,000 after acquiring an additional 2,753 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in Enbridge by 25.2% in the third quarter. J.W. Cole Advisors Inc. now owns 16,898 shares of the pipeline company’s stock valued at $686,000 after acquiring an additional 3,402 shares during the period. Orrstown Financial Services Inc. acquired a new position in Enbridge in the third quarter valued at approximately $206,000. Finally, Fortitude Family Office LLC bought a new position in shares of Enbridge during the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $41.78 on Thursday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market cap of $91.04 billion, a PE ratio of 24.29, a P/E/G ratio of 3.92 and a beta of 0.94. The stock has a 50 day simple moving average of $43.38 and a 200-day simple moving average of $41.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. Enbridge’s dividend payout ratio is presently 155.81%.

About Enbridge

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.