Enbridge Inc $ENB is Hillsdale Investment Management Inc.’s 8th Largest Position

Hillsdale Investment Management Inc. cut its holdings in shares of Enbridge Inc (NYSE:ENBFree Report) (TSE:ENB) by 26.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,285,885 shares of the pipeline company’s stock after selling 455,909 shares during the quarter. Enbridge comprises approximately 2.0% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 8th biggest holding. Hillsdale Investment Management Inc.’s holdings in Enbridge were worth $64,856,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ENB. IHT Wealth Management LLC increased its stake in shares of Enbridge by 1.2% during the 2nd quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after acquiring an additional 213 shares during the last quarter. HBK Sorce Advisory LLC increased its position in Enbridge by 1.8% during the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after purchasing an additional 215 shares during the last quarter. Copperleaf Capital LLC increased its position in Enbridge by 3.6% during the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 217 shares during the last quarter. South Plains Financial Inc. raised its stake in Enbridge by 13.2% during the second quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Enbridge by 2.9% in the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 221 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge News Summary

Here are the key news stories impacting Enbridge this week:

Enbridge Trading Down 0.2%

NYSE ENB opened at $51.50 on Friday. The stock has a market cap of $112.35 billion, a P/E ratio of 22.39 and a beta of 0.69. The company’s fifty day simple moving average is $48.39 and its 200-day simple moving average is $48.17. 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 Inc has a 52 week low of $39.73 and a 52 week high of $54.19.

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

Enbridge Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ENB. JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research note on Tuesday. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a research note on Tuesday. Finally, TD Securities cut Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.00.

Get Our Latest Stock Report on ENB

Enbridge Profile

(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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