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

Avidian Wealth Enterprises LLC trimmed its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 14.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 reporting period.

Other institutional investors also recently bought and sold shares of the company. McIlrath & Eck LLC boosted its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge in the 4th quarter worth about $29,000. MFA Wealth Advisors LLC boosted its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in Enbridge in the 3rd quarter worth about $35,000. Finally, Darwin Wealth Management LLC acquired a new stake in Enbridge in the 3rd quarter worth about $37,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Enbridge Trading Up 1.1 %

Shares of Enbridge stock opened at $45.59 on Friday. The stock has a market cap 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. The stock’s 50 day simple moving average is $43.30 and its 200-day simple moving average is $41.63. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge Cuts Dividend

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

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.