BLB&B Advisors LLC Sells 1,132 Shares of Enbridge Inc. (NYSE:ENB)

BLB&B Advisors LLC reduced its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 4.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,522 shares of the pipeline company’s stock after selling 1,132 shares during the period. BLB&B Advisors LLC’s holdings in Enbridge were worth $916,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Grove Bank & Trust grew its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the 2nd quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge during the 1st quarter valued at approximately $29,000. Finally, Richardson Financial Services Inc. purchased a new stake in Enbridge during the 1st quarter valued at $31,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Enbridge stock opened at $41.46 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a market capitalization of $88.46 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. Enbridge Inc. has a 1-year low of $31.31 and a 1-year high of $42.16. The company’s 50-day moving average is $40.47 and its 200 day moving average is $37.63.

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

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.46%. Enbridge’s dividend payout ratio (DPR) is 134.01%.

Wall Street Analyst Weigh In

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

About Enbridge

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.