Enbridge Inc $ENB Stock: Cardinal Point Capital Management ULC Grows Position

Cardinal Point Capital Management ULC raised its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 334,206 shares of the pipeline company’s stock after purchasing an additional 13,064 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Enbridge were worth $15,582,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Retirement Planning Group LLC increased its position in Enbridge by 3.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares in the last quarter. Bank & Trust Co raised its holdings in Enbridge by 0.6% in the second quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock valued at $1,804,000 after buying an additional 193 shares during the period. Cornerstone Wealth Management LLC lifted its position in Enbridge by 0.6% during the second quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after buying an additional 194 shares in the last quarter. PFG Investments LLC lifted its position in Enbridge by 0.9% during the first quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after buying an additional 202 shares in the last quarter. Finally, Clearwave Capital LLC lifted its position in Enbridge by 0.9% during the second quarter. Clearwave Capital LLC now owns 22,033 shares of the pipeline company’s stock valued at $1,194,000 after buying an additional 204 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ENB shares. Scotiabank raised shares of Enbridge to a “strong-buy” rating in a research report on Thursday, September 17th. Jefferies Financial Group restated a “hold” rating on shares of Enbridge in a report on Monday, September 14th. TD raised shares of Enbridge to a “buy” rating in a research report on Tuesday, September 15th. The Goldman Sachs Group assumed coverage on Enbridge in a report on Wednesday, September 30th. They issued a “neutral” rating and a $50.00 price target for the company. Finally, Wolfe Research set a $50.00 price objective on Enbridge in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus target price of $65.88.

Enbridge Price Performance

Shares of ENB opened at $47.99 on Thursday. The firm has a market cap of $106.97 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 5.70 and a beta of 0.60. The stock has a 50 day moving average of $48.59 and a 200-day moving average of $52.59. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, analysts forecast that Enbridge Inc will post 2.10 EPS for the current year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a C$0.97 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 8.1%. Enbridge’s dividend payout ratio (DPR) is currently 147.06%.

Enbridge Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.