Wealthstar Advisors LLC Makes New $677,000 Investment in Enbridge Inc. (NYSE:ENB)

Wealthstar Advisors LLC bought a new stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,946 shares of the pipeline company's stock, valued at approximately $677,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. McIlrath & Eck LLC grew its holdings in shares of Enbridge by 74.9% during the third 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 bought a new stake in Enbridge in the fourth quarter worth $29,000. Grove Bank & Trust lifted its position in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of Enbridge during the 3rd quarter worth approximately $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an "equal weight" rating on the stock. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has an average rating of "Hold" and an average price target of $63.00.

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Enbridge Stock Performance

ENB traded up $0.49 during midday trading on Thursday, hitting $45.59. 3,649,942 shares of the company traded hands, compared to its average volume of 4,032,432. The firm has a market capitalization of $99.32 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The company's 50-day moving average is $43.30 and its 200 day moving average is $41.63. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge Cuts Dividend

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