K.J. Harrison & Partners Inc Takes Position in Enbridge Inc $ENB

K.J. Harrison & Partners Inc acquired a new stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 30,361 shares of the pipeline company’s stock, valued at approximately $1,643,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the period. RNC Capital Management LLC increased its holdings in Enbridge by 1.6% during the 4th quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after acquiring an additional 22,637 shares during the period. SCS Capital Management LLC bought a new stake in Enbridge during the 2nd quarter worth approximately $9,204,000. Western Wealth Management LLC lifted its stake in Enbridge by 346.8% in the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock worth $1,959,000 after purchasing an additional 28,091 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its stake in Enbridge by 22.8% in the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock worth $47,275,000 after purchasing an additional 183,163 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 0.5%

Shares of ENB opened at $50.63 on Tuesday. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45. The company has a market capitalization of $110.58 billion, a P/E ratio of 27.07 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The firm’s 50 day simple moving average is $54.57 and its 200 day simple moving average is $53.97.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the previous year, the company earned $0.65 EPS. Sell-side analysts forecast that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, August 14th. Enbridge’s payout ratio is currently 147.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ENB shares. Royal Bank Of Canada boosted their price target on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, August 3rd. Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Wolfe Research set a $50.00 price objective on Enbridge in a research note on Tuesday, August 4th. Finally, TD Securities restated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

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.