Enbridge Inc $ENB Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. reduced its stake in shares of Enbridge Inc (NYSE:ENBFree Report) (TSE:ENB) by 26.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,285,885 shares of the pipeline company’s stock after selling 455,909 shares during the period. Enbridge makes up about 2.0% of Hillsdale Investment Management Inc.’s holdings, making the stock its 8th largest position. Hillsdale Investment Management Inc. owned about 0.06% of Enbridge worth $64,856,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Tsfg LLC boosted its holdings in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares in the last quarter. Highline Wealth Partners LLC increased its holdings in Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after buying an additional 236 shares in the last quarter. Whipplewood Advisors LLC lifted its position in shares of Enbridge by 112.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 308 shares during the period. True Wealth Design LLC boosted its stake in shares of Enbridge by 588.2% during the 3rd quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 500 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of Enbridge in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ENB. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday. Royal Bank Of Canada raised their price target on Enbridge from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday. Zacks Research upgraded shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Tuesday. Finally, National Bank Financial restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Read Our Latest Research Report on Enbridge

Key Headlines Impacting Enbridge

Here are the key news stories impacting Enbridge this week:

Enbridge Trading Down 0.2%

Enbridge stock opened at $51.50 on Friday. The stock has a market cap of $112.35 billion, a PE ratio of 22.39 and a beta of 0.69. The stock has a 50-day moving average price of $48.39 and a 200 day moving average price of $48.17. Enbridge Inc has a 52 week low of $39.73 and a 52 week high of $54.19. The company has a current ratio of 0.63, a quick ratio of 0.68 and a debt-to-equity ratio of 1.70.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The company had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the firm earned $0.75 EPS. Equities research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 7.5%. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is 120.87%.

About Enbridge

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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