Walter & Keenan Wealth Management LLC IN ADV Invests $202,000 in Enbridge Inc. (NYSE:ENB)

Walter & Keenan Wealth Management LLC IN ADV acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, Holdings Channel.com reports. The fund acquired 4,760 shares of the pipeline company’s stock, valued at approximately $202,000.

Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of Enbridge during the 2nd quarter worth $303,000. Valeo Financial Advisors LLC acquired a new position in Enbridge during the third quarter worth about $230,000. Ritholtz Wealth Management lifted its holdings in shares of Enbridge by 46.1% in the third quarter. Ritholtz Wealth Management now owns 56,963 shares of the pipeline company’s stock worth $2,313,000 after acquiring an additional 17,978 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Enbridge in the 3rd quarter valued at approximately $175,000. Finally, CHICAGO TRUST Co NA bought a new stake in shares of Enbridge during the 3rd quarter valued at approximately $216,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on ENB shares. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” 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. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.00.

Enbridge Price Performance

ENB stock opened at $44.51 on Monday. 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 market capitalization of $96.96 billion, a P/E ratio of 20.61, a PEG ratio of 4.08 and a beta of 0.94. The company has a fifty day moving average price of $43.20 and a 200-day moving average price of $41.45.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 121.76%.

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.