Avantax Advisory Services Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 430,464 shares of the pipeline company's stock after purchasing 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 SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. increased its stake in Enbridge by 30.5% in the 3rd quarter. Assetmark Inc. now owns 54,542 shares of the pipeline company's stock worth $2,215,000 after acquiring an additional 12,743 shares during the last quarter. Versor Investments LP increased its stake in Enbridge by 9.5% in the 3rd quarter. Versor Investments LP now owns 9,200 shares of the pipeline company's stock worth $374,000 after acquiring an additional 800 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in Enbridge by 2.8% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 18,753 shares of the pipeline company's stock worth $762,000 after acquiring an additional 516 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Enbridge by 13.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 56,893 shares of the pipeline company's stock worth $2,311,000 after acquiring an additional 6,683 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Enbridge in the 3rd quarter worth about $624,000. 54.60% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on ENB. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, CIBC reiterated an "outperform" rating on shares of Enbridge in a report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.00.
Check Out Our Latest Research Report on ENB
Enbridge Price Performance
ENB opened at $42.64 on Thursday. The stock has a 50-day moving average price of $43.46 and a 200-day moving average price of $42.17. Enbridge Inc. has a 12-month low of $32.85 and a 12-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. The stock has a market capitalization of $92.90 billion, a P/E ratio of 24.79, a PEG ratio of 3.92 and a beta of 0.95.
Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $4.78 billion. During the same period in the prior year, the business earned $0.64 EPS. Equities analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.
About Enbridge
(
Free Report)
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.
Further Reading
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