Hillsdale Investment Management Inc. Has $79.04 Million Stock Holdings in Enbridge Inc $ENB

Hillsdale Investment Management Inc. increased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,741,794 shares of the pipeline company’s stock after purchasing an additional 211,416 shares during the period. Enbridge makes up 2.9% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 3rd largest holding. Hillsdale Investment Management Inc. owned about 0.08% of Enbridge worth $79,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in shares of Enbridge by 1.2% during the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after buying an additional 221 shares during the period. New England Capital Financial Advisors LLC lifted its stake in shares of Enbridge by 21.0% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 1,285 shares of the pipeline company’s stock worth $58,000 after acquiring an additional 223 shares during the last quarter. Key Client Fiduciary Advisors LLC lifted its stake in shares of Enbridge by 1.7% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after acquiring an additional 242 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in Enbridge by 4.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock valued at $235,000 after acquiring an additional 243 shares during the period. Finally, CENTRAL TRUST Co boosted its holdings in Enbridge by 0.6% during the 2nd quarter. CENTRAL TRUST Co now owns 44,999 shares of the pipeline company’s stock valued at $2,039,000 after acquiring an additional 248 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research lowered Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, November 10th. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, November 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Finally, Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.00.

Enbridge Price Performance

ENB opened at $48.32 on Friday. The firm has a market capitalization of $105.39 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The business’s 50-day moving average is $48.25 and its two-hundred day moving average is $46.87. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a return on equity of 10.77% and a net margin of 10.11%.The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period in the previous year, the business earned $0.55 EPS. Research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 7.8%. The ex-dividend date is Friday, November 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is presently 147.80%.

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.