Raleigh Capital Management Inc. Has $2.04 Million Stake in Enbridge Inc. (NYSE:ENB)

Raleigh Capital Management Inc. cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,142 shares of the pipeline company’s stock after selling 1,111 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Enbridge were worth $2,036,000 as of its most recent SEC filing.

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

Enbridge Stock Performance

Shares of Enbridge stock opened at $41.54 on Tuesday. The company has a market cap of $88.63 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 3.94 and a beta of 0.93. The business has a 50 day moving average price of $40.43 and a 200-day moving average price of $37.59. Enbridge Inc. has a 52 week low of $31.31 and a 52 week high of $42.16. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. Equities analysts anticipate that Enbridge Inc. will post 2.08 earnings per share for the current fiscal 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 paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.44%. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report 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.