Old North State Wealth Management LLC Has $3.99 Million Stake in Enbridge Inc. (NYSE:ENB)

Old North State Wealth Management LLC lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.3% during the 4th quarter, Holdings Channel reports. The fund owned 94,038 shares of the pipeline company’s stock after acquiring an additional 1,179 shares during the quarter. Enbridge makes up approximately 2.2% of Old North State Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Old North State Wealth Management LLC’s holdings in Enbridge were worth $3,992,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. McIlrath & Eck LLC lifted its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter worth $29,000. Grove Bank & Trust boosted its position in 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 buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC raised its position in shares of Enbridge by 55.6% during the third 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 position in shares of Enbridge during the third quarter valued at $35,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Enbridge Stock Up 1.9 %

Enbridge stock opened at $43.73 on Wednesday. The firm has a market capitalization of $95.25 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 4.02 and a beta of 0.94. The company’s 50 day simple moving average is $43.11 and its 200 day simple moving average is $41.27. 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 Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.13%. Enbridge’s dividend payout ratio is 121.76%.

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.