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

Cardinal Capital Management Inc. trimmed its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,747,175 shares of the pipeline company’s stock after selling 31,658 shares during the period. Enbridge makes up 4.0% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Cardinal Capital Management Inc.’s holdings in Enbridge were worth $116,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ENB. Dimensional Fund Advisors LP raised its holdings in shares of Enbridge by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock worth $86,399,000 after purchasing an additional 25,717 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in shares of Enbridge by 6.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,381 shares of the pipeline company’s stock valued at $489,000 after buying an additional 861 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Enbridge by 4.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock worth $1,346,000 after acquiring an additional 1,766 shares during the period. Ensign Peak Advisors Inc increased its holdings in Enbridge by 7.2% in the 2nd quarter. Ensign Peak Advisors Inc now owns 137,250 shares of the pipeline company’s stock worth $5,054,000 after acquiring an additional 9,200 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Enbridge by 5.3% during the second quarter. EverSource Wealth Advisors LLC now owns 9,553 shares of the pipeline company’s stock valued at $357,000 after purchasing an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ENB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Trading Down 1.2 %

Enbridge stock opened at $44.77 on Thursday. The stock has a market cap of $97.53 billion, a P/E ratio of 20.73, a PEG ratio of 4.20 and a beta of 0.93. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The firm’s fifty day moving average price is $42.89 and its 200-day moving average price is $40.76. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the firm posted $0.46 EPS. Equities research analysts forecast that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

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.