Silverlake Wealth Management LLC Sells 4,354 Shares of Enbridge Inc. (NYSE:ENB)

Silverlake Wealth Management LLC reduced its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 22.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,796 shares of the pipeline company’s stock after selling 4,354 shares during the period. Silverlake Wealth Management LLC’s holdings in Enbridge were worth $628,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Old North State Wealth Management LLC lifted its holdings in Enbridge by 1.3% in the 4th quarter. Old North State Wealth Management LLC now owns 94,038 shares of the pipeline company’s stock worth $3,992,000 after purchasing an additional 1,179 shares in the last quarter. Tranquilli Financial Advisor LLC raised its holdings in shares of Enbridge by 13.0% during the 4th quarter. Tranquilli Financial Advisor LLC now owns 9,000 shares of the pipeline company’s stock worth $382,000 after acquiring an additional 1,038 shares in the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of Enbridge by 11.1% during the 4th quarter. Brown Lisle Cummings Inc. now owns 33,309 shares of the pipeline company’s stock worth $1,413,000 after acquiring an additional 3,324 shares in the last quarter. Columbus Macro LLC raised its holdings in shares of Enbridge by 532.7% during the 4th quarter. Columbus Macro LLC now owns 275,629 shares of the pipeline company’s stock worth $11,694,000 after acquiring an additional 232,064 shares in the last quarter. Finally, Dupree Financial Group LLC raised its holdings in shares of Enbridge by 0.9% during the 4th quarter. Dupree Financial Group LLC now owns 504,381 shares of the pipeline company’s stock worth $21,401,000 after acquiring an additional 4,663 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ENB shares. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report 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, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

NYSE ENB opened at $43.73 on Wednesday. The company has a market cap of $95.25 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The stock’s 50 day simple moving average is $43.11 and its 200-day simple moving average is $41.27. 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 announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given 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 6.13%. Enbridge’s dividend payout ratio is currently 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.