Marks Group Wealth Management Inc Has $2.47 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Marks Group Wealth Management Inc cut its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,182 shares of the pipeline company’s stock after selling 1,000 shares during the period. Marks Group Wealth Management Inc’s holdings in Enbridge were worth $2,469,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Lester Murray Antman dba SimplyRich boosted its holdings in Enbridge by 6.6% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 8,842 shares of the pipeline company’s stock valued at $375,000 after purchasing an additional 545 shares during the period. Kentucky Trust Co acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $3,335,000. Capital Advisors Inc. OK acquired a new stake in shares of Enbridge in the fourth quarter valued at approximately $30,140,000. Certuity LLC bought a new stake in shares of Enbridge in the fourth quarter valued at approximately $201,000. Finally, Leavell Investment Management Inc. grew its position in Enbridge by 1.6% during the fourth quarter. Leavell Investment Management Inc. now owns 24,472 shares of the pipeline company’s stock worth $1,038,000 after buying an additional 385 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Price Performance

Enbridge stock opened at $45.29 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The stock has a market capitalization of $98.65 billion, a P/E ratio of 20.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The stock has a fifty day moving average of $43.23 and a 200-day moving average of $41.54.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has an average rating of “Hold” and an average target price 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.