K.J. Harrison & Partners Inc Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

K.J. Harrison & Partners Inc increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 90.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,251 shares of the pipeline company’s stock after purchasing an additional 45,200 shares during the period. K.J. Harrison & Partners Inc’s holdings in Enbridge were worth $3,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. purchased a new position in shares of Enbridge during the 4th quarter valued at about $25,000. Baystate Wealth Management LLC boosted its position in Enbridge by 836.4% in the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $28,000. Financial Gravity Asset Management Inc. increased its holdings in shares of Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of Enbridge in the 4th quarter valued at $34,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE:ENB traded down $0.44 during trading on Friday, reaching $35.82. The stock had a trading volume of 4,384,025 shares, compared to its average volume of 5,769,161. The business has a fifty day moving average price of $35.19 and a 200-day moving average price of $34.80. Enbridge Inc. has a 1-year low of $31.03 and a 1-year high of $40.30. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83. The stock has a market cap of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.34 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. On average, equities analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.56%. Enbridge’s dividend payout ratio (DPR) is presently 129.05%.

Analysts Set New Price Targets

Several research firms recently commented on ENB. Stifel Nicolaus began coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.20.

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.