ProVise Management Group LLC Sells 22,480 Shares of Enbridge Inc. (NYSE:ENB)

ProVise Management Group LLC reduced its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 177,372 shares of the pipeline company’s stock after selling 22,480 shares during the quarter. ProVise Management Group LLC’s holdings in Enbridge were worth $7,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Horizon Investments LLC boosted its holdings in shares of Enbridge by 2.2% during the 4th quarter. Horizon Investments LLC now owns 57,691 shares of the pipeline company’s stock worth $2,448,000 after buying an additional 1,233 shares during the period. Advisors Asset Management Inc. boosted its holdings in Enbridge by 16.5% in the 4th quarter. Advisors Asset Management Inc. now owns 144,118 shares of the pipeline company’s stock valued at $6,115,000 after purchasing an additional 20,361 shares during the period. PDS Planning Inc boosted its holdings in Enbridge by 16.9% in the 4th quarter. PDS Planning Inc now owns 6,481 shares of the pipeline company’s stock valued at $275,000 after purchasing an additional 937 shares during the period. Axxcess Wealth Management LLC boosted its holdings in Enbridge by 2.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 52,952 shares of the pipeline company’s stock valued at $2,247,000 after purchasing an additional 1,247 shares during the period. Finally, Flagship Wealth Advisors LLC bought a new stake in Enbridge in the 4th quarter valued at $55,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of research reports. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Trading Down 0.2 %

Shares of ENB stock opened at $43.41 on Wednesday. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $45.78. The stock has a market cap of $94.59 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The firm has a fifty day moving average of $43.45 and a 200-day moving average of $42.29.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the company posted $0.64 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.