Hillsdale Investment Management Inc. Sells 288,754 Shares of Enbridge Inc $ENB

Hillsdale Investment Management Inc. lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 24.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 884,313 shares of the pipeline company’s stock after selling 288,754 shares during the quarter. Enbridge makes up approximately 1.3% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 13th largest position. Hillsdale Investment Management Inc.’s holdings in Enbridge were worth $47,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ENB. Exchange Traded Concepts LLC boosted its position in Enbridge by 3.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,121,715 shares of the pipeline company’s stock worth $53,652,000 after purchasing an additional 41,601 shares during the period. Third View Private Wealth LLC bought a new position in shares of Enbridge in the fourth quarter valued at about $3,691,000. Viking Fund Management LLC raised its position in shares of Enbridge by 35.2% in the fourth quarter. Viking Fund Management LLC now owns 236,000 shares of the pipeline company’s stock valued at $11,288,000 after purchasing an additional 61,500 shares during the period. Swiss Life Asset Management Ltd lifted its stake in shares of Enbridge by 19.2% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 276,434 shares of the pipeline company’s stock worth $13,966,000 after buying an additional 44,524 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 2,067,516 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.8%

ENB stock opened at $55.08 on Tuesday. Enbridge Inc has a 52 week low of $44.37 and a 52 week high of $58.45. The company has a market capitalization of $120.29 billion, a PE ratio of 25.86 and a beta of 0.58. The company’s 50-day simple moving average is $55.47 and its 200 day simple moving average is $52.75. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 in the previous year, the company earned $1.03 EPS. As a group, sell-side analysts anticipate that Enbridge Inc will post 2.15 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s payout ratio is presently 133.80%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Royal Bank Of Canada upped their price target on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research report on Sunday. Scotiabank restated an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.