Hillsdale Investment Management Inc. Lowers Stock Position in Enbridge Inc $ENB

Hillsdale Investment Management Inc. lessened its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,173,067 shares of the pipeline company’s stock after selling 112,818 shares during the quarter. Enbridge accounts for approximately 1.6% of Hillsdale Investment Management Inc.’s holdings, making the stock its 9th biggest holding. Hillsdale Investment Management Inc. owned approximately 0.05% of Enbridge worth $56,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENB. Brighton Jones LLC bought a new stake in Enbridge in the 4th quarter valued at $261,000. AQR Capital Management LLC increased its holdings in Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after buying an additional 11,599 shares during the period. AXA S.A. increased its holdings in Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after buying an additional 15,259 shares during the period. Diversify Advisory Services LLC increased its holdings in Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after buying an additional 10,617 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after buying an additional 34,912 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.5%

Shares of Enbridge stock opened at $54.75 on Friday. The stock has a market capitalization of $119.56 billion, a P/E ratio of 25.71 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. The company has a 50-day simple moving average of $54.45 and a 200 day simple moving average of $51.09. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) 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 analysts’ expectations 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 company posted $1.03 EPS. Research analysts expect that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a yield of 7.1%. Enbridge’s dividend payout ratio is currently 133.80%.

Analyst Ratings Changes

Several brokerages have recently commented on ENB. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Enbridge in a research report on Thursday, February 19th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Royal Bank Of Canada increased their target price on shares of Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.50.

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.