Demars Financial Group LLC Cuts Stock Position in Enbridge Inc. (NYSE:ENB)

Demars Financial Group LLC lowered its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 79.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,697 shares of the pipeline company’s stock after selling 95,421 shares during the period. Enbridge accounts for about 0.5% of Demars Financial Group LLC’s holdings, making the stock its 20th largest holding. Demars Financial Group LLC’s holdings in Enbridge were worth $890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ENB. Wellington Management Group LLP lifted its position in Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after buying an additional 4,400,848 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Enbridge by 36.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after buying an additional 2,814,200 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Enbridge by 13.9% during the 3rd quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after buying an additional 2,756,079 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Enbridge by 11.3% during the 3rd quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock valued at $689,270,000 after buying an additional 2,101,021 shares during the period. 54.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ENB. Stifel Nicolaus began coverage on Enbridge in a report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group initiated coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Trading Up 0.2 %

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

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

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.