Enbridge Inc. (NYSE:ENB) Shares Sold by Jackson Grant Investment Advisers Inc.

Jackson Grant Investment Advisers Inc. lowered its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 18.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,087 shares of the pipeline company’s stock after selling 248 shares during the quarter. Jackson Grant Investment Advisers Inc.’s holdings in Enbridge were worth $46,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McIlrath & Eck LLC raised its holdings in shares of Enbridge by 74.9% in the third 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 purchased a new stake in shares of Enbridge during the fourth quarter valued at $29,000. Grove Bank & Trust increased its position in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC raised its stake 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 acquiring an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Enbridge during the 3rd quarter worth about $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.5 %

Shares of ENB opened at $43.96 on Thursday. The company has a market capitalization of $95.76 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The stock’s 50-day moving average price is $43.13 and its 200-day moving average price is $41.32. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

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 given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.10%. Enbridge’s dividend payout ratio is presently 124.07%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ENB shares. Royal Bank of Canada reissued 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. Morgan Stanley began coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Company 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.