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

K.J. Harrison & Partners Inc lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 90.3% during the 4th quarter, HoldingsChannel reports. The fund owned 95,251 shares of the pipeline company’s stock after acquiring an additional 45,200 shares during the period. K.J. Harrison & Partners Inc’s holdings in Enbridge were worth $3,435,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new position in shares of Enbridge during the 4th quarter valued at $25,000. Baystate Wealth Management LLC lifted its stake in shares of Enbridge by 836.4% during the fourth 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 purchased a new stake in shares of Enbridge during the 4th quarter valued at about $28,000. Financial Gravity Asset Management Inc. lifted its position in Enbridge by 2,294.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after acquiring an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. acquired a new position in shares of Enbridge during the fourth quarter worth $34,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of NYSE ENB traded down $0.44 during mid-day trading on Friday, hitting $35.82. The company had a trading volume of 4,384,025 shares, compared to its average volume of 5,769,161. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $40.30. The stock has a market cap of $76.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.34 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm’s 50 day simple moving average is $35.19 and its two-hundred day simple moving average is $34.80.

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

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is presently 129.05%.

Analyst Ratings Changes

Several equities analysts have recently commented on ENB shares. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.