Cardinal Capital Management Inc. Reduces Holdings in Enbridge Inc. (NYSE:ENB)

Cardinal Capital Management Inc. lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,747,175 shares of the pipeline company’s stock after selling 31,658 shares during the period. Enbridge accounts for approximately 4.0% of Cardinal Capital Management Inc.’s holdings, making the stock its 9th largest position. Cardinal Capital Management Inc. owned about 0.13% of Enbridge worth $116,336,000 at the end of the most recent quarter.

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

Enbridge Stock Down 1.2 %

NYSE ENB opened at $44.77 on Thursday. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The business has a fifty day moving average price of $42.89 and a two-hundred day moving average price of $40.76. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $97.53 billion, a PE ratio of 20.73, a PEG ratio of 4.20 and a beta of 0.93.

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

Enbridge Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.00.

About Enbridge

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.