Enbridge Inc. (NYSE:ENB) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.5% during the fourth quarter, HoldingsChannel reports. The fund owned 7,599 shares of the pipeline company’s stock after selling 1,284 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Enbridge were worth $322,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in Enbridge in the fourth quarter valued at approximately $29,000. MFA Wealth Advisors LLC raised its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Fortitude Family Office LLC purchased a new stake in Enbridge in the third quarter valued at approximately $35,000. Finally, Darwin Wealth Management LLC purchased a new stake in Enbridge in the third quarter valued at approximately $37,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 1.1 %

Enbridge stock opened at $45.59 on Friday. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The stock’s fifty day simple moving average is $43.30 and its 200-day simple moving average is $41.63. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $99.32 billion, a P/E ratio of 21.11, a P/E/G ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ENB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge 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.