Castleview Partners LLC Lowers Position in Enbridge Inc. (NYSE:ENB)

Castleview Partners LLC trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 16.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,565 shares of the pipeline company’s stock after selling 304 shares during the quarter. Castleview Partners LLC’s holdings in Enbridge were worth $64,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its holdings in Enbridge by 6.1% during the first quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after purchasing an additional 15,650 shares during the last quarter. Stonegate Investment Group LLC grew its holdings in shares of Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after acquiring an additional 13,515 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Enbridge during the first quarter valued at approximately $1,133,000. Vanguard Group Inc. lifted its holdings in Enbridge by 1.5% during the first quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. Finally, Intech Investment Management LLC bought a new position in Enbridge in the 1st quarter valued at $4,069,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Trading Down 1.1 %

Shares of ENB stock opened at $41.54 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $88.63 billion, a P/E ratio of 21.08, a PEG ratio of 3.94 and a beta of 0.93. The company has a 50 day moving average of $40.43 and a 200-day moving average of $37.59. Enbridge Inc. has a 12-month low of $31.31 and a 12-month high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period last year, the business posted $0.51 earnings per share. Sell-side analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Enbridge Company 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.