Enbridge Inc. (NYSE:ENB) Shares Sold by Alliance Wealth Advisors LLC

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. apricus wealth LLC grew its holdings in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC boosted its position in Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. grew its stake in shares of Enbridge by 3.2% during the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 230 shares during the period. Eagle Bay Advisors LLC lifted its stake in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its holdings in Enbridge by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge 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 business has a 50 day simple moving average of $43.20 and a two-hundred day simple moving average of $41.41. The stock has a market capitalization of $96.96 billion, a P/E ratio of 20.61, a PEG ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78.

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. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.02%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analyst Weigh In

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