ProVise Management Group LLC increased its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,831 shares of the pipeline company’s stock after buying an additional 3,224 shares during the period. ProVise Management Group LLC’s holdings in Enbridge were worth $4,295,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Spectrum Management Group Inc. purchased a new stake in Enbridge during the third quarter worth about $113,000. Fieldpoint Private Securities LLC purchased a new stake in Enbridge during the third quarter worth about $130,000. Valeo Financial Advisors LLC purchased a new stake in Enbridge during the third quarter worth about $146,000. Field & Main Bank purchased a new stake in Enbridge during the fourth quarter worth about $149,000. Finally, NEXT Financial Group Inc boosted its holdings in Enbridge by 53.6% during the third quarter. NEXT Financial Group Inc now owns 4,196 shares of the pipeline company’s stock worth $174,000 after buying an additional 1,465 shares in the last quarter. 62.62% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Inc (ENB) opened at $34.73 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.50 and a debt-to-equity ratio of 1.06. The stock has a market cap of $56,257.14, a PE ratio of 21.84, a price-to-earnings-growth ratio of 3.09 and a beta of 0.56. Enbridge Inc has a 52-week low of $33.26 and a 52-week high of $43.36.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. The ex-dividend date is Wednesday, February 14th. This represents a $2.11 dividend on an annualized basis and a yield of 6.08%. This is a boost from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s payout ratio is presently 120.76%.

A number of analysts recently commented on ENB shares. GMP Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. Morgan Stanley decreased their price objective on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. Canaccord Genuity reissued a “buy” rating and set a $54.00 price objective on shares of Enbridge in a report on Thursday, November 30th. Finally, Bank of America started coverage on shares of Enbridge in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Enbridge presently has a consensus rating of “Hold” and a consensus price target of $51.25.

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Enbridge Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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