Avantax Advisory Services Inc. Raises Holdings in Enbridge Inc. (NYSE:ENB)

Avantax Advisory Services Inc. boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 430,464 shares of the pipeline company’s stock after acquiring an additional 15,355 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Enbridge were worth $18,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares during the period. Raymond James Financial Inc. purchased a new stake in Enbridge during the 4th quarter valued at about $180,941,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares during the last quarter. National Bank of Canada FI raised its position in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP raised its position in Enbridge by 55.2% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after purchasing an additional 1,472,789 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ENB. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Stock Up 0.8 %

Shares of NYSE:ENB opened at $42.64 on Thursday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The firm has a market capitalization of $92.90 billion, a P/E ratio of 24.79, a P/E/G ratio of 3.92 and a beta of 0.95. The stock has a 50 day moving average price of $43.46 and a 200-day moving average price of $42.17. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.14 EPS for the current fiscal 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.