Marks Group Wealth Management Inc Has $2.47 Million Stock Position in Enbridge Inc. (NYSE:ENB)

Marks Group Wealth Management Inc cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,182 shares of the pipeline company’s stock after selling 1,000 shares during the period. Marks Group Wealth Management Inc’s holdings in Enbridge were worth $2,469,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lester Murray Antman dba SimplyRich raised its stake in shares of Enbridge by 6.6% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 8,842 shares of the pipeline company’s stock worth $375,000 after purchasing an additional 545 shares in the last quarter. Kentucky Trust Co acquired a new position in Enbridge during the fourth quarter worth $3,335,000. Capital Advisors Inc. OK bought a new stake in Enbridge during the fourth quarter worth $30,140,000. Certuity LLC acquired a new stake in Enbridge in the fourth quarter valued at $201,000. Finally, Leavell Investment Management Inc. grew its position in shares of Enbridge by 1.6% in the 4th quarter. Leavell Investment Management Inc. now owns 24,472 shares of the pipeline company’s stock valued at $1,038,000 after acquiring an additional 385 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. 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. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of ENB stock opened at $45.29 on Wednesday. The company has a market capitalization of $98.65 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 4.08 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a 50-day simple moving average of $43.23 and a 200 day simple moving average of $41.54.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Friday, February 14th. Enbridge’s 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.