Golden State Wealth Management LLC Invests $103,000 in Enbridge Inc. (NYSE:ENB)

Golden State Wealth Management LLC bought a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,436 shares of the pipeline company’s stock, valued at approximately $103,000.

Several other large investors have also bought and sold shares of ENB. McIlrath & Eck LLC boosted its holdings in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Albion Financial Group UT bought a new stake in Enbridge during the 4th quarter valued at approximately $29,000. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its stake in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Enbridge during the 3rd quarter valued at approximately $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Enbridge Trading Up 0.7 %

Shares of ENB opened at $44.51 on Monday. The firm has a 50-day moving average price of $43.20 and a 200 day moving average price of $41.45. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $96.96 billion, a P/E ratio of 20.61, a P/E/G ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors 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 dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 124.07%.

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.