Sigma Planning Corp Boosts Stock Holdings in Enbridge Inc. (NYSE:ENB)

Sigma Planning Corp boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,692 shares of the pipeline company’s stock after purchasing an additional 354 shares during the period. Sigma Planning Corp’s holdings in Enbridge were worth $2,490,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the fourth quarter worth $29,000. Fortitude Family Office LLC acquired a new stake in shares of Enbridge in the third quarter worth $35,000. Darwin Wealth Management LLC acquired a new stake in shares of Enbridge in the third quarter worth $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its position in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ENB. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Price Performance

ENB opened at $41.74 on Friday. The company has a fifty day simple moving average of $43.35 and a 200 day simple moving average of $41.89. The firm has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a twelve month low of $32.85 and a twelve month high of $45.78. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the business earned $0.64 EPS. Equities research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is 155.81%.

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.