Enbridge Inc $ENB Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lifted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 28.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 633,547 shares of the pipeline company’s stock after acquiring an additional 141,326 shares during the period. Harvest Portfolios Group Inc.’s holdings in Enbridge were worth $30,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia lifted its stake in Enbridge by 118.0% during the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after purchasing an additional 5,157,030 shares during the last quarter. Vanguard Group Inc. lifted its stake in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. Raymond James Financial Inc. lifted its stake in Enbridge by 43.7% during the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after purchasing an additional 2,016,674 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Enbridge during the third quarter worth $88,407,000. Finally, Kayne Anderson Capital Advisors LP lifted its stake in Enbridge by 48.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock worth $232,477,000 after purchasing an additional 1,508,300 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ENB. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Monday, May 11th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Price Performance

Shares of NYSE ENB opened at $56.81 on Wednesday. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $57.01. The firm has a fifty day simple moving average of $53.98 and a 200 day simple moving average of $50.56. The company has a market capitalization of $124.06 billion, a PE ratio of 26.67 and a beta of 0.59. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same quarter last year, the firm earned $1.03 earnings per share. On average, sell-side analysts forecast that Enbridge Inc will post 2.17 EPS for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th 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 6.8%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

About Enbridge

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.