K.J. Harrison & Partners Inc Has $1.57 Million Stock Position in Enbridge Inc $ENB

K.J. Harrison & Partners Inc reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 30.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,976 shares of the pipeline company’s stock after selling 12,859 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Enbridge were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Triumph Capital Management bought a new stake in shares of Enbridge in the 3rd quarter valued at about $26,000. Turning Point Benefit Group Inc. bought a new stake in Enbridge during the third quarter worth about $28,000. Inspire Investing LLC bought a new position in shares of Enbridge in the 4th quarter valued at about $29,000. Garner Asset Management Corp bought a new position in shares of Enbridge during the 4th quarter worth approximately $30,000. Finally, Imprint Wealth LLC acquired a new position in shares of Enbridge in the third quarter valued at $31,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

NYSE ENB opened at $54.05 on Friday. The firm’s fifty day moving average price is $55.32 and its two-hundred day moving average price is $52.38. The stock has a market cap of $118.04 billion, a PE ratio of 25.37 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81. Enbridge Inc has a fifty-two week low of $43.59 and a fifty-two week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same quarter last year, the business posted $1.03 EPS. On average, equities analysts expect that Enbridge Inc will post 2.16 EPS for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is 133.80%.

Analysts Set New Price Targets

Several research firms recently issued reports on ENB. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Finally, Royal Bank Of Canada upped their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

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.