Wealthstar Advisors LLC Makes New Investment in Enbridge Inc. (NYSE:ENB)

Wealthstar Advisors LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, HoldingsChannel reports. The fund acquired 15,946 shares of the pipeline company’s stock, valued at approximately $677,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Washburn Capital Management Inc. acquired a new stake in Enbridge in the fourth quarter valued at $221,000. Kestra Private Wealth Services LLC raised its holdings in shares of Enbridge by 33.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 54,128 shares of the pipeline company’s stock valued at $2,297,000 after purchasing an additional 13,677 shares during the period. Miller Howard Investments Inc. NY lifted its stake in Enbridge by 5.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 888,847 shares of the pipeline company’s stock valued at $37,714,000 after purchasing an additional 44,544 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Enbridge by 31.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 108,204 shares of the pipeline company’s stock worth $4,591,000 after buying an additional 26,074 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in Enbridge by 10.8% in the fourth quarter. Apollon Wealth Management LLC now owns 63,025 shares of the pipeline company’s stock valued at $2,674,000 after buying an additional 6,132 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

ENB opened at $44.51 on Monday. 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 fifty day simple moving average of $43.20 and a 200 day simple moving average of $41.45. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a market capitalization of $96.96 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is 124.07%.

Wall Street Analyst Weigh In

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

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.