Enbridge Inc. (NYSE:ENB) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,025 shares of the pipeline company’s stock after acquiring an additional 6,132 shares during the period. Apollon Wealth Management LLC’s holdings in Enbridge were worth $2,674,000 as of its most recent filing with the Securities & Exchange Commission.

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

Enbridge Price Performance

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

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 124.07%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ENB. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.00.

About Enbridge

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.