CarsonAllaria Wealth Management Ltd. Sells 889 Shares of Enbridge Inc. (NYSE:ENB)

CarsonAllaria Wealth Management Ltd. decreased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,800 shares of the pipeline company’s stock after selling 889 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Enbridge were worth $416,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. McIlrath & Eck LLC boosted its position 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 purchasing an additional 295 shares during the period. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter valued at approximately $29,000. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in Enbridge during the 3rd quarter valued at $35,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Trading Up 1.9 %

Shares of ENB opened at $43.73 on Wednesday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm’s 50-day moving average price is $43.11 and its 200-day moving average price is $41.27. 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.

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 paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.13%. Enbridge’s payout ratio is 121.76%.

Analyst Ratings Changes

Several research analysts have commented on the stock. 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. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up previously 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.