Alliance Wealth Advisors LLC Reduces Position in Enbridge Inc. (NYSE:ENB)

Alliance Wealth Advisors LLC reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,316 shares of the pipeline company’s stock after selling 384 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Enbridge were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its stake in Enbridge by 31.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 108,204 shares of the pipeline company’s stock worth $4,591,000 after acquiring an additional 26,074 shares during the period. Apollon Wealth Management LLC raised its holdings in Enbridge by 10.8% in the 4th quarter. Apollon Wealth Management LLC now owns 63,025 shares of the pipeline company’s stock worth $2,674,000 after purchasing an additional 6,132 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Enbridge during the 4th quarter valued at about $103,000. Strategic Financial Concepts LLC increased its position in shares of Enbridge by 4,134.7% during the fourth quarter. Strategic Financial Concepts LLC now owns 307,820 shares of the pipeline company’s stock valued at $13,061,000 after buying an additional 300,551 shares during the period. Finally, Leo Wealth LLC lifted its holdings in Enbridge by 42.1% in the fourth quarter. Leo Wealth LLC now owns 10,754 shares of the pipeline company’s stock worth $456,000 after buying an additional 3,186 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Price Performance

Shares of ENB stock opened at $44.51 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company’s 50-day simple moving average is $43.20 and its two-hundred day simple moving average is $41.41. The company has a market capitalization of $96.96 billion, a P/E ratio of 20.61, a P/E/G ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

Enbridge Cuts Dividend

The firm also recently declared 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 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 121.76%.

Analyst Ratings Changes

Several research firms recently commented on ENB. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.00.

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.