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

Cardinal Capital Management Inc. reduced its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,636,334 shares of the pipeline company's stock after selling 110,841 shares during the quarter. Enbridge comprises 4.0% of Cardinal Capital Management Inc.'s holdings, making the stock its 7th largest holding. Cardinal Capital Management Inc. owned 0.12% of Enbridge worth $116,730,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Wintrust Investments LLC raised its stake in Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. Sheaff Brock Investment Advisors LLC raised its holdings in Enbridge by 2.0% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 12,749 shares of the pipeline company's stock worth $541,000 after buying an additional 251 shares during the last quarter. Knuff & Co LLC increased its position in shares of Enbridge by 12.6% during the fourth quarter. Knuff & Co LLC now owns 2,252 shares of the pipeline company's stock worth $96,000 after acquiring an additional 252 shares in the last quarter. Hardin Capital Partners LLC increased its holdings in Enbridge by 2.7% during the 1st quarter. Hardin Capital Partners LLC now owns 9,553 shares of the pipeline company's stock worth $423,000 after purchasing an additional 252 shares in the last quarter. Finally, Focus Financial Network Inc. raised its position in Enbridge by 1.6% in the 4th quarter. Focus Financial Network Inc. now owns 16,988 shares of the pipeline company's stock valued at $721,000 after buying an additional 262 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ENB shares. CIBC reiterated an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. Finally, Wall Street Zen raised Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Enbridge has an average rating of "Hold" and an average price target of $67.00.

Enbridge Price Performance

NYSE ENB traded up $0.01 on Tuesday, hitting $45.83. The stock had a trading volume of 3,739,582 shares, compared to its average volume of 4,029,846. The company has a market capitalization of $99.92 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $47.44. The firm has a 50-day moving average of $45.18 and a 200-day moving average of $43.90. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter last year, the company posted $0.92 EPS. Equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend was Thursday, May 15th. This is a boost from Enbridge's previous quarterly dividend of $0.67. Enbridge's dividend 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.