Demars Financial Group LLC Reduces Stake in Enbridge Inc. (NYSE:ENB)

Demars Financial Group LLC reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 79.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,697 shares of the pipeline company’s stock after selling 95,421 shares during the period. Enbridge comprises 0.5% of Demars Financial Group LLC’s investment portfolio, making the stock its 20th biggest position. Demars Financial Group LLC’s holdings in Enbridge were worth $890,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BOK Financial Private Wealth Inc. purchased a new position in Enbridge during the fourth quarter worth $25,000. Baystate Wealth Management LLC increased its position in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Enbridge during the fourth quarter worth $28,000. Financial Gravity Asset Management Inc. increased its position in Enbridge by 2,294.6% during the third quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock worth $29,000 after buying an additional 849 shares in the last quarter. Finally, Planned Solutions Inc. purchased a new position in Enbridge during the fourth quarter worth $34,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ENB has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Price Performance

Shares of Enbridge stock opened at $35.42 on Wednesday. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The stock has a market capitalization of $75.30 billion, a P/E ratio of 16.87, a PEG ratio of 3.31 and a beta of 0.84. 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 business’s fifty day moving average price is $35.07 and its 200 day moving average price is $34.76.

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