Enbridge Inc $ENB Shares Sold by Guardian Partners Inc.

Key Points

• Guardian Partners Inc has reduced its holdings in Enbridge Inc by 2.1% during the first quarter, selling 16,882 shares, while still making up 3.5% of its portfolio, valued at approximately $33.98 million.
• Enbridge reported earnings of $0.47 per share for the last quarter, exceeding analysts' expectations and achieving a net margin of 10.11% despite lower revenues than anticipated.
• The company has announced a dividend increase to $0.6839 per share, representing a yield of 5.7%, with a reported payout ratio of 134.98%.

Guardian Partners Inc. lowered its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,545 shares of the pipeline company's stock after selling 16,882 shares during the period. Enbridge comprises 3.5% of Guardian Partners Inc.'s holdings, making the stock its 3rd largest position. Guardian Partners Inc.'s holdings in Enbridge were worth $33,983,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ENB. Dagco Inc. bought a new position in Enbridge during the 1st quarter worth about $25,000. Garde Capital Inc. bought a new position in Enbridge during the 1st quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new position in Enbridge during the 1st quarter worth about $28,000. Accent Capital Management LLC bought a new position in Enbridge during the 1st quarter worth about $30,000. Finally, Wolff Wiese Magana LLC increased its holdings in Enbridge by 91.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after purchasing an additional 365 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research reports. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a report on Tuesday, August 5th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Saturday. Zacks Research upgraded Enbridge from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Finally, Argus increased their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $60.50.

Enbridge Stock Up 0.6%

Shares of Enbridge stock traded up $0.30 during trading hours on Friday, reaching $49.11. 2,011,439 shares of the company's stock were exchanged, compared to its average volume of 3,120,296. The company has a 50 day moving average of $46.65 and a two-hundred day moving average of $45.38. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $49.11. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The stock has a market cap of $107.10 billion, a P/E ratio of 24.19, a P/E/G ratio of 4.46 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same period in the prior year, the business posted $0.58 EPS. On average, sell-side 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 Monday, September 1st. Investors of record on Friday, August 15th were paid a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.6%. Enbridge's dividend payout ratio (DPR) is 134.98%.

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.