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

Sigma Planning Corp lessened its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 58.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,228 shares of the pipeline company’s stock after selling 31,052 shares during the period. Sigma Planning Corp’s holdings in Enbridge were worth $801,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BOK Financial Private Wealth Inc. purchased a new stake in shares of Enbridge in the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC grew its stake in Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in Enbridge in the fourth quarter worth approximately $28,000. Financial Gravity Asset Management Inc. grew its stake in 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 position in Enbridge in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.2 %

Shares of NYSE ENB opened at $35.42 on Wednesday. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $75.30 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 3.31 and a beta of 0.84. The stock’s fifty day simple moving average is $35.07 and its two-hundred day simple moving average is $34.76. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30.

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

Analysts Set New Price Targets

ENB has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two equities research 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.com, Enbridge presently has a consensus rating of “Hold” and an average price target of $55.20.

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.