Guardian Capital LP Cuts Position in Enbridge Inc. (NYSE:ENB)

Guardian Capital LP trimmed its position in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 901,358 shares of the pipeline company's stock after selling 77,671 shares during the period. Enbridge comprises about 1.4% of Guardian Capital LP's portfolio, making the stock its 18th biggest position. Guardian Capital LP's holdings in Enbridge were worth $38,237,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ENB. Utah Retirement Systems increased its stake in Enbridge by 2.6% in the fourth quarter. Utah Retirement Systems now owns 244,052 shares of the pipeline company's stock valued at $10,353,000 after purchasing an additional 6,300 shares during the last quarter. Lido Advisors LLC increased its stake in Enbridge by 37.5% in the fourth quarter. Lido Advisors LLC now owns 10,279 shares of the pipeline company's stock valued at $436,000 after purchasing an additional 2,806 shares during the last quarter. Northern Trust Corp increased its stake in Enbridge by 42.5% in the fourth quarter. Northern Trust Corp now owns 2,538,754 shares of the pipeline company's stock valued at $107,719,000 after purchasing an additional 756,762 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in Enbridge by 4.3% in the fourth quarter. Beacon Pointe Advisors LLC now owns 321,024 shares of the pipeline company's stock valued at $13,621,000 after purchasing an additional 13,205 shares during the last quarter. Finally, Prosperity Consulting Group LLC purchased a new position in Enbridge in the fourth quarter valued at approximately $214,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock opened at $46.64 on Wednesday. Enbridge Inc. has a 52-week low of $34.60 and a 52-week high of $46.85. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The company's 50-day simple moving average is $43.52 and its 200-day simple moving average is $43.04. The firm has a market cap of $101.68 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period in the prior year, the business posted $0.64 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be paid a dividend of $0.679 per share. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 5.82%. Enbridge's dividend payout ratio is presently 157.56%.

Wall Street Analyst Weigh In

Several equities analysts have commented on ENB shares. Royal Bank of Canada increased their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Raymond James raised Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Citigroup began coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Enbridge presently has an average rating of "Moderate Buy" and an average price target of $67.00.

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.

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