50,447 Shares in Enbridge Inc. (NYSE:ENB) Purchased by MFG Wealth Management Inc.

MFG Wealth Management Inc. bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,447 shares of the pipeline company’s stock, valued at approximately $2,140,000. Enbridge comprises about 2.0% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC boosted its holdings in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in Enbridge during the 4th quarter worth approximately $29,000. Grove Bank & Trust raised its stake in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its stake in shares of 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 during the period. Finally, Fortitude Family Office LLC acquired a new position in Enbridge during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.2 %

Enbridge stock opened at $45.15 on Thursday. 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 stock’s fifty day moving average is $43.27 and its two-hundred day moving average is $41.60. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78. The firm has a market capitalization of $98.36 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.94%. Enbridge’s dividend payout ratio is currently 121.76%.

Analyst Ratings Changes

ENB has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set 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 Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.

Enbridge 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.