Enbridge Inc. (NYSE:ENB) is Cardinal Capital Management Inc.’s 7th Largest Position

Cardinal Capital Management Inc. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,636,334 shares of the pipeline company’s stock after selling 110,841 shares during the quarter. Enbridge accounts for 4.0% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Cardinal Capital Management Inc.’s holdings in Enbridge were worth $116,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. Norges Bank bought a new stake in shares of Enbridge during the fourth quarter worth $909,415,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock worth $510,816,000 after purchasing an additional 9,621,425 shares during the last quarter. Blackstone Inc. lifted its position in shares of Enbridge by 650.7% during the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock worth $242,619,000 after purchasing an additional 4,956,379 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Enbridge during the fourth quarter worth $180,941,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ENB has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Citigroup started coverage on Enbridge in a research report on Friday, April 4th. They set a “buy” rating for the company. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, May 12th. Finally, Raymond James upgraded Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Stock Performance

ENB stock 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. The business has a 50-day moving average price of $45.18 and a 200 day moving average price of $43.90. The company has a market capitalization of $99.86 billion, a P/E ratio of 26.63, a PEG ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a 1-year low of $34.60 and a 1-year high of $47.44.

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

Enbridge Increases Dividend

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

Enbridge 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.