K.J. Harrison & Partners Inc Sells 27,895 Shares of Enbridge Inc. (NYSE:ENB)

K.J. Harrison & Partners Inc trimmed its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 20.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,823 shares of the pipeline company's stock after selling 27,895 shares during the period. K.J. Harrison & Partners Inc's holdings in Enbridge were worth $4,584,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge in the 4th quarter valued at approximately $29,000. Fortitude Family Office LLC acquired a new stake in Enbridge during the 3rd quarter worth approximately $35,000. Darwin Wealth Management LLC bought a new stake in Enbridge during the 3rd quarter worth approximately $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in Enbridge by 149.9% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company's stock valued at $41,000 after acquiring an additional 580 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 2.4 %

Enbridge stock traded up $1.00 during trading hours on Friday, reaching $42.73. 4,436,885 shares of the company's stock were exchanged, compared to its average volume of 4,407,628. The firm has a market capitalization of $93.11 billion, a PE ratio of 24.84, a PEG ratio of 3.92 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm's 50 day simple moving average is $43.42 and its 200 day simple moving average is $42.00. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $0.64 earnings per share. Research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Saturday, February 15th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.27%. The ex-dividend date of this dividend was Friday, February 14th. Enbridge's dividend payout ratio is presently 155.81%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $67.00.

Enbridge Company Profile

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.