Cardinal Capital Management Inc. Has $132.26 Million Stake in Enbridge Inc $ENB

Cardinal Capital Management Inc. raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,619,954 shares of the pipeline company’s stock after buying an additional 14,429 shares during the quarter. Enbridge comprises about 3.8% of Cardinal Capital Management Inc.’s portfolio, making the stock its 11th largest position. Cardinal Capital Management Inc. owned about 0.12% of Enbridge worth $132,258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Whipplewood Advisors LLC raised its position in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth $29,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Enbridge in the second quarter valued at about $31,000. Addison Advisors LLC acquired a new stake in Enbridge in the second quarter valued at about $35,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Enbridge during the second quarter valued at about $36,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE:ENB opened at $47.67 on Tuesday. The company has a market capitalization of $103.97 billion, a P/E ratio of 26.19 and a beta of 0.68. The company’s 50-day moving average is $47.70 and its 200 day moving average is $47.16. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the prior year, the firm posted $0.55 EPS. On average, equities research analysts forecast 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, March 1st. Investors of record on Tuesday, February 17th will be paid a $0.97 dividend. The ex-dividend date is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 8.1%. Enbridge’s dividend payout ratio (DPR) is currently 147.80%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Enbridge in a report on Monday, December 8th. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Zacks Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 11th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus price target of $63.00.

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.