Adell Harriman & Carpenter Inc. Acquires 315 Shares of Enbridge Inc. (NYSE:ENB)

Adell Harriman & Carpenter Inc. lifted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 108,216 shares of the pipeline company’s stock after acquiring an additional 315 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Enbridge were worth $4,592,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ENB. McIlrath & Eck LLC boosted its holdings in 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 buying an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter worth approximately $29,000. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% during 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. Fortitude Family Office LLC acquired a new position in Enbridge during the third quarter valued at approximately $35,000. Finally, Darwin Wealth Management LLC acquired a new stake in Enbridge in the third quarter worth $37,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Trading Down 5.1 %

ENB opened at $43.13 on Friday. The firm’s fifty day simple moving average is $43.33 and its 200 day simple moving average is $41.65. The stock has a market capitalization of $93.95 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.08 and a beta of 0.94. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12 month low of $32.85 and a 12 month 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 issued a $0.67 dividend. 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 6.21%. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ENB. 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 initiated 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 report on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Royal Bank of Canada reissued 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. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.