Cardinal Capital Management Inc. Sells 200,002 Shares of Enbridge Inc $ENB

Cardinal Capital Management Inc. lessened its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 47.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 219,173 shares of the pipeline company’s stock after selling 200,002 shares during the quarter. Cardinal Capital Management Inc.’s holdings in Enbridge were worth $10,214,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. GK Wealth Management LLC acquired a new stake in Enbridge during the third quarter worth about $25,000. Arlington Trust Co LLC lifted its holdings in Enbridge by 114.6% in the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 267 shares during the period. Quintet Private Bank Europe S.A. lifted its holdings in Enbridge by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 300 shares during the period. City Holding Co. boosted its position in Enbridge by 121.5% in the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock worth $35,000 after purchasing an additional 356 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. boosted its position in Enbridge by 99.7% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $48.08 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The business has a 50-day moving average price of $48.82 and a 200 day moving average price of $52.73. The firm has a market cap of $107.17 billion, a PE ratio of 21.99, a P/E/G ratio of 5.58 and a beta of 0.60.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $9.70 billion during the quarter, compared to analysts’ expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. During the same quarter in the prior year, the firm posted $0.65 EPS. Sell-side analysts predict that Enbridge Inc will post 2.10 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a C$0.97 dividend. The ex-dividend date was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 8.1%. Enbridge’s payout ratio is 147.06%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ENB shares. BMO Capital Markets raised shares of Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 price objective on the stock in a research note on Monday, September 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a report on Wednesday, August 19th. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a research note on Thursday, August 27th. Wolfe Research set a $50.00 price target on shares of Enbridge in a report on Tuesday, August 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Enbridge in a report on Wednesday, September 30th. They set a “neutral” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.88.

Enbridge Profile

Enbridge Inc (NYSE: ENB) is a Canadian energy infrastructure company that transports and distributes oil, natural gas and renewable energy across North America. Its operations include crude oil and liquids pipelines, natural gas transmission and storage, natural gas distribution and utility services, and renewable power generation. The company serves customers and communities in Canada and the United States.

Enbridge’s liquids pipeline network transports crude oil and other liquid hydrocarbons to refineries, export terminals and market hubs.