Harbor Advisory Corp MA Sells 3,411 Shares of Enbridge Inc. (NYSE:ENB)

Harbor Advisory Corp MA cut its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,215 shares of the pipeline company’s stock after selling 3,411 shares during the quarter. Harbor Advisory Corp MA’s holdings in Enbridge were worth $1,409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% during 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 in the last quarter. Albion Financial Group UT acquired a new stake in Enbridge during the fourth quarter worth about $29,000. Grove Bank & Trust grew its stake in Enbridge by 56.7% during 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 grew its stake in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in Enbridge during the third quarter worth about $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Enbridge Stock Up 1.1 %

Shares of NYSE ENB opened at $45.29 on Wednesday. The company has a 50 day simple moving average of $43.23 and a 200 day simple moving average of $41.54. The firm has a market cap of $98.65 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 5.92%. Enbridge’s dividend payout ratio (DPR) is presently 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.