UBS Group AG Has $87.40 Million Stock Position in Enbridge Inc. (NYSE:ENB)

UBS Group AG boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,426,281 shares of the pipeline company’s stock after acquiring an additional 7,476 shares during the period. UBS Group AG’s holdings in Enbridge were worth $87,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at about $25,000. Baystate Wealth Management LLC raised its holdings in Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of Enbridge in the fourth quarter valued at about $28,000. Financial Gravity Asset Management Inc. lifted its position in shares of Enbridge by 2,294.6% in the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after purchasing an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. bought a new stake in Enbridge during the 4th quarter worth about $34,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group initiated coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Down 0.5 %

Enbridge stock opened at $36.60 on Thursday. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $38.37. The stock has a market cap of $77.81 billion, a P/E ratio of 18.58, a P/E/G ratio of 3.47 and a beta of 0.86. The company’s 50-day moving average price is $35.81 and its two-hundred day moving average price is $35.36. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.40%. The ex-dividend date is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

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.