Walter & Keenan Wealth Management LLC IN ADV Purchases Shares of 4,760 Enbridge Inc. (NYSE:ENB)

Walter & Keenan Wealth Management LLC IN ADV acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,760 shares of the pipeline company’s stock, valued at approximately $202,000.

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

Analyst Ratings Changes

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

Enbridge Trading Up 0.7 %

Shares of Enbridge stock opened at $44.51 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a 50-day moving average of $43.20 and a 200-day moving average of $41.45. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The stock has a market cap of $96.96 billion, a PE ratio of 20.61, a PEG ratio of 4.08 and a beta of 0.94.

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 given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.02%. Enbridge’s payout ratio is presently 121.76%.

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.