Apollon Wealth Management LLC Raises Stake in Enbridge Inc. (NYSE:ENB)

Apollon Wealth Management LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,025 shares of the pipeline company's stock after purchasing an additional 6,132 shares during the quarter. Apollon Wealth Management LLC's holdings in Enbridge were worth $2,674,000 at the end of the most recent reporting period.

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

Enbridge Stock Performance

Shares of ENB traded up $0.49 on Thursday, reaching $45.59. The company's stock had a trading volume of 3,649,942 shares, compared to its average volume of 4,032,432. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $99.32 billion, a P/E ratio of 21.11, a PEG ratio of 4.08 and a beta of 0.94. The stock's 50 day simple moving average is $43.30 and its two-hundred day simple moving average is $41.63. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78.

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Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Friday, February 14th. Enbridge's payout ratio is 121.76%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.