Financial Advocates Investment Management Lowers Stock Holdings in Enbridge Inc. (NYSE:ENB)

Financial Advocates Investment Management lessened its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 35.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,933 shares of the pipeline company’s stock after selling 10,967 shares during the quarter. Financial Advocates Investment Management’s holdings in Enbridge were worth $846,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Swiss National Bank boosted its stake in shares of Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after buying an additional 536,818 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after buying an additional 319,907 shares during the period. Sound Income Strategies LLC grew its stake in shares of Enbridge by 8.6% in the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its position in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after acquiring an additional 15,207 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Up 0.7 %

ENB stock opened at $44.51 on Friday. The company’s 50 day moving average is $43.18 and its two-hundred day moving average is $41.36. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. 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 stock has a market cap of $96.96 billion, a P/E ratio of 20.61, a PEG ratio of 4.02 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. Shareholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.02%. Enbridge’s dividend payout ratio is presently 121.76%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ENB shares. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Enbridge 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.