Enbridge Inc. (NYSE:ENB) Shares Sold by ProVise Management Group LLC

ProVise Management Group LLC lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

A number of other large investors have also made changes to their positions in the company. apricus wealth LLC raised its holdings in shares of Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC raised its holdings in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after acquiring an additional 227 shares during the period. Armstrong Advisory Group Inc. raised its holdings in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 230 shares during the period. Wintrust Investments LLC raised its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 238 shares during the period. Finally, Eagle Bay Advisors LLC raised its holdings in shares of Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after acquiring an additional 240 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of recent analyst reports. CIBC restated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada upped 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 started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Down 0.2 %

Enbridge stock opened at $43.41 on Wednesday. The firm’s 50 day moving average price is $43.45 and its two-hundred day moving average price is $42.29. Enbridge Inc. has a twelve month low of $32.86 and a twelve month high of $45.78. The firm has a market cap of $94.59 billion, a PE 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.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business posted $0.64 EPS. On average, research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

About Enbridge

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.