Sigma Planning Corp reduced its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% in the first quarter, HoldingsChannel reports. The firm owned 42,307 shares of the pipeline company’s stock after selling 3,385 shares during the quarter. Sigma Planning Corp’s holdings in Enbridge were worth $1,534,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC boosted its holdings in shares of Enbridge by 2.4% in the fourth quarter. AE Wealth Management LLC now owns 31,348 shares of the pipeline company’s stock worth $974,000 after buying an additional 740 shares during the last quarter. Stock Yards Bank & Trust Co. boosted its holdings in shares of Enbridge by 25.7% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 9,448 shares of the pipeline company’s stock worth $294,000 after buying an additional 1,930 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Enbridge by 11.0% in the third quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock worth $154,592,000 after buying an additional 472,660 shares during the last quarter. Freestone Capital Holdings LLC purchased a new position in shares of Enbridge in the fourth quarter worth approximately $3,328,000. Finally, Mutual Advisors LLC purchased a new position in shares of Enbridge in the fourth quarter worth approximately $478,000. Hedge funds and other institutional investors own 56.65% of the company’s stock.

In related news, insider Albert Monaco bought 7,806 shares of the stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average price of $49.33 per share, with a total value of $385,069.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Allen C. Capps sold 6,514 shares of the business’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total transaction of $241,148.28. Following the completion of the transaction, the insider now directly owns 3,437 shares in the company, valued at approximately $127,237.74. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by insiders.

NYSE:ENB traded up $0.30 during trading hours on Wednesday, hitting $36.86. 225,346 shares of the stock traded hands, compared to its average volume of 3,574,582. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.58 and a quick ratio of 0.49. Enbridge Inc has a 1 year low of $28.82 and a 1 year high of $37.96. The company has a market capitalization of $73.98 billion, a P/E ratio of 17.98, a P/E/G ratio of 2.48 and a beta of 0.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 15th. The pipeline company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. The firm had revenue of $8.75 billion for the quarter, compared to the consensus estimate of $12.27 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc will post 1.71 earnings per share for the current fiscal year.

ENB has been the topic of a number of research reports. CIBC reissued a “buy” rating and issued a $57.00 price objective on shares of Enbridge in a report on Tuesday, January 15th. ValuEngine raised shares of Enbridge from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Wells Fargo & Co reissued a “buy” rating on shares of Enbridge in a report on Monday, February 18th. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Thursday, February 14th. Finally, Bank of America reissued a “buy” rating on shares of Enbridge in a report on Tuesday, March 5th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $46.46.

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Enbridge Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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