Enbridge Inc $ENB Position Decreased by Guardian Partners Inc.

Guardian Partners Inc. lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 653,629 shares of the pipeline company’s stock after selling 13,312 shares during the quarter. Enbridge makes up 2.7% of Guardian Partners Inc.’s portfolio, making the stock its 6th largest holding. Guardian Partners Inc.’s holdings in Enbridge were worth $30,454,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. City State Bank raised its stake in shares of Enbridge by 9.2% in the third quarter. City State Bank now owns 11,857 shares of the pipeline company’s stock worth $551,000 after buying an additional 1,000 shares during the period. Integrated Advisors Network LLC grew its stake in shares of Enbridge by 19.1% during the 3rd quarter. Integrated Advisors Network LLC now owns 9,429 shares of the pipeline company’s stock valued at $438,000 after acquiring an additional 1,513 shares during the period. Capital Management Associates Inc grew its stake in shares of Enbridge by 13.9% during the 3rd quarter. Capital Management Associates Inc now owns 4,825 shares of the pipeline company’s stock valued at $224,000 after acquiring an additional 590 shares during the period. CWA Asset Management Group LLC increased its holdings in Enbridge by 15.3% in the 3rd quarter. CWA Asset Management Group LLC now owns 115,750 shares of the pipeline company’s stock worth $5,381,000 after acquiring an additional 15,328 shares in the last quarter. Finally, CFS Investment Advisory Services LLC purchased a new stake in Enbridge in the 3rd quarter worth approximately $218,000. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Canadian Imperial Bank of Commerce raised shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday, August 27th. Raymond James Financial restated a “market perform” rating on shares of Enbridge in a research report on Tuesday, September 15th. Wolfe Research set a $50.00 target price on shares of Enbridge in a research note on Tuesday, August 4th. Scotiabank raised shares of Enbridge to a “strong-buy” rating in a report on Thursday, September 17th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Enbridge in a report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of “Moderate Buy” and an average target price of $65.88.

Enbridge Price Performance

NYSE ENB traded up $0.20 during trading hours on Wednesday, reaching $48.09. The company’s stock had a trading volume of 1,039,498 shares, compared to its average volume of 4,839,260. Enbridge Inc has a 1 year low of $45.03 and a 1 year high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $107.20 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 5.61 and a beta of 0.60. The firm’s 50-day moving average price is $48.66 and its 200-day moving average price is $52.63.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) 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 analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same period last year, the firm posted $0.65 EPS. On average, equities research analysts predict that Enbridge Inc will post 2.10 EPS for the current fiscal year.

Enbridge Announces Dividend

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

About Enbridge

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.