Hillsdale Investment Management Inc. Decreases Stock Holdings in Enbridge Inc $ENB

Hillsdale Investment Management Inc. lowered its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,173,067 shares of the pipeline company’s stock after selling 112,818 shares during the period. Enbridge makes up approximately 1.6% of Hillsdale Investment Management Inc.’s holdings, making the stock its 9th biggest holding. Hillsdale Investment Management Inc.’s holdings in Enbridge were worth $56,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ENB. Bank of Nova Scotia grew its holdings in Enbridge by 118.0% during the 3rd quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock worth $480,518,000 after acquiring an additional 5,157,030 shares during the last quarter. Vanguard Group Inc. grew its holdings in Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Enbridge by 43.7% during the 3rd quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after acquiring an additional 2,016,674 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Enbridge during the 3rd quarter worth about $88,407,000. Finally, Kayne Anderson Capital Advisors LP grew its holdings in Enbridge by 48.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,607,157 shares of the pipeline company’s stock worth $232,477,000 after acquiring an additional 1,508,300 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ENB. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Down 1.5%

Shares of NYSE ENB opened at $54.75 on Friday. The firm has a market capitalization of $119.56 billion, a PE ratio of 25.71 and a beta of 0.59. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 1 year low of $43.59 and a 1 year high of $58.45. The firm’s 50-day moving average is $54.45 and its 200-day moving average is $51.09.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates 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 firm earned $1.03 EPS. Equities analysts expect that Enbridge Inc will post 2.18 EPS for the current year.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 133.80%.

Enbridge Company Profile

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.