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

Harbor Advisory Corp MA decreased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.3% in the 4th quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter worth approximately $29,000. Grove Bank & Trust raised its holdings 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 purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% during 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 during the last quarter. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the 3rd quarter worth approximately $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $45.29 on Wednesday. The company has a fifty day simple moving average of $43.23 and a 200 day simple moving average of $41.54. 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 company has a market cap of $98.65 billion, a P/E ratio of 20.97, a PEG ratio of 4.08 and a beta of 0.94.

Enbridge Cuts Dividend

The firm 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 $0.67 dividend. This represents a $2.68 annualized dividend 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%.

Wall Street Analyst Weigh In

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

Enbridge 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.