Strategic Financial Concepts LLC Has $13.06 Million Position in Enbridge Inc. (NYSE:ENB)

Strategic Financial Concepts LLC increased its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 4,134.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 307,820 shares of the pipeline company's stock after purchasing an additional 300,551 shares during the quarter. Strategic Financial Concepts LLC's holdings in Enbridge were worth $13,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ENB. AQR Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter worth approximately $303,000. Brookstone Capital Management increased its position in Enbridge by 2.2% in the 3rd quarter. Brookstone Capital Management now owns 48,791 shares of the pipeline company's stock worth $1,981,000 after buying an additional 1,067 shares during the period. Valeo Financial Advisors LLC bought a new position in Enbridge in the 3rd quarter worth approximately $230,000. Priebe Wealth Holdings LLC bought a new position in Enbridge in the 3rd quarter worth approximately $203,000. Finally, Silverlake Wealth Management LLC increased its position in Enbridge by 2.4% in the 3rd quarter. Silverlake Wealth Management LLC now owns 19,150 shares of the pipeline company's stock worth $778,000 after buying an additional 445 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ENB. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. TD Securities assumed coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada restated 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $63.00.

Enbridge Stock Performance

Shares of ENB traded up $0.35 on Monday, reaching $44.80. 2,769,395 shares of the stock traded hands, compared to its average volume of 3,878,190. The firm has a market cap of $97.60 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 4.08 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The stock's 50-day moving average price is $43.20 and its 200-day moving average price is $41.48.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is 121.76%.

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.