Sigma Planning Corp Trims Stock Position in Enbridge Inc. (NYSE:ENB)

Sigma Planning Corp lessened its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 58.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,228 shares of the pipeline company’s stock after selling 31,052 shares during the quarter. Sigma Planning Corp’s holdings in Enbridge were worth $801,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Enbridge by 98.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock valued at $54,578,000 after buying an additional 815,850 shares during the period. Clarius Group LLC raised its position in shares of Enbridge by 25.2% during the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after buying an additional 1,617 shares during the period. S.E.E.D. Planning Group LLC raised its position in shares of Enbridge by 81.1% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after buying an additional 102,850 shares during the period. Private Trust Co. NA raised its position in shares of Enbridge by 5.7% during the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after buying an additional 473 shares during the period. Finally, Vanguard Group Inc. raised its position in Enbridge by 5.7% in the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ENB shares. Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

NYSE:ENB opened at $35.42 on Wednesday. The company has a fifty day simple moving average of $35.07 and a two-hundred day simple moving average of $34.76. The company has a market cap of $75.30 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.