Enbridge Inc $ENB Shares Sold by Guardian Partners Inc.

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

A number of other large investors have also added to or reduced their stakes in ENB. Deutsche Bank AG purchased a new stake in shares of Enbridge during the 2nd quarter worth approximately $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Enbridge by 18.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock valued at $1,117,353,000 after purchasing an additional 3,205,322 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in Enbridge by 1.0% in the second quarter. TD Waterhouse Canada Inc. now owns 16,189,798 shares of the pipeline company’s stock worth $863,952,000 after purchasing an additional 164,934 shares during the last quarter. Amundi increased its position in Enbridge by 8.5% in the second quarter. Amundi now owns 11,948,497 shares of the pipeline company’s stock worth $647,728,000 after purchasing an additional 936,435 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Enbridge by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock valued at $599,709,000 after purchasing an additional 268,800 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.4%

NYSE ENB traded up $0.20 on Wednesday, hitting $48.09. 1,039,498 shares of the stock were exchanged, compared to its average volume of 4,839,260. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The stock has a fifty day moving average price of $48.66 and a two-hundred day moving average price of $52.63. The firm has a market capitalization of $107.20 billion, a P/E ratio of 25.71, a P/E/G ratio of 5.61 and a beta of 0.60. Enbridge Inc has a 52-week low of $45.03 and a 52-week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last posted 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. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The business had revenue of $9.70 billion for the quarter, compared to analysts’ expectations of $8.67 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. Research analysts forecast that Enbridge Inc will post 2.10 EPS for the current fiscal year.

Enbridge Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ENB. BMO Capital Markets upgraded shares of Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 price objective for the company in a research report on Monday, September 14th. Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a “neutral” rating to a “sector outperform” rating in a report on Thursday, August 27th. Royal Bank Of Canada upped their target price on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Raymond James Financial reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, September 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.88.

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.