Beacon Financial Group Sells 3,244 Shares of Enbridge Inc. (NYSE:ENB)

Beacon Financial Group lessened its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,559 shares of the pipeline company’s stock after selling 3,244 shares during the quarter. Beacon Financial Group’s holdings in Enbridge were worth $1,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of ENB. AQR Capital Management LLC bought a new position in shares of Enbridge in the second quarter worth about $303,000. Valeo Financial Advisors LLC purchased a new stake in Enbridge in the 3rd quarter valued at about $230,000. CHICAGO TRUST Co NA bought a new position in Enbridge in the 3rd quarter worth about $216,000. Novare Capital Management LLC purchased a new position in shares of Enbridge during the third quarter worth approximately $257,000. Finally, Fiduciary Alliance LLC bought a new stake in shares of Enbridge during the third quarter valued at approximately $286,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 1.1 %

Enbridge stock opened at $45.29 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market cap of $98.65 billion, a P/E ratio of 20.97, a P/E/G ratio of 4.08 and a beta of 0.94. The business has a fifty day moving average of $43.23 and a two-hundred day moving average of $41.54. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is currently 121.76%.

Analysts Set New Price Targets

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

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.