Enbridge Inc. (NYSE:ENB) Stock Position Lessened by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,636,334 shares of the pipeline company’s stock after selling 110,841 shares during the period. Enbridge comprises approximately 4.0% of Cardinal Capital Management Inc.’s holdings, making the stock its 7th biggest position. Cardinal Capital Management Inc. owned approximately 0.12% of Enbridge worth $116,730,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ENB. Brighton Jones LLC bought a new position in shares of Enbridge in the 4th quarter worth approximately $261,000. Golden State Wealth Management LLC bought a new position in shares of Enbridge in the 4th quarter worth approximately $103,000. Apollon Wealth Management LLC raised its stake in Enbridge by 10.8% during the 4th quarter. Apollon Wealth Management LLC now owns 63,025 shares of the pipeline company’s stock worth $2,674,000 after acquiring an additional 6,132 shares during the period. Kestra Private Wealth Services LLC raised its stake in Enbridge by 33.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 54,128 shares of the pipeline company’s stock worth $2,297,000 after acquiring an additional 13,677 shares during the period. Finally, Wealthstar Advisors LLC bought a new stake in Enbridge during the 4th quarter worth approximately $677,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Down 1.5%

Shares of ENB opened at $45.81 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. Enbridge Inc. has a 1 year low of $34.60 and a 1 year high of $47.44. The company has a 50 day simple moving average of $45.18 and a two-hundred day simple moving average of $43.90. The firm has a market cap of $99.86 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same period last year, the firm posted $0.92 EPS. On average, equities analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a $0.679 dividend. The ex-dividend date was Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.93%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.