Avantax Advisory Services Inc. Has $19.76 Million Stake in Enbridge Inc (NYSE:ENB)

Key Points

• Avantax Advisory Services Inc. increased its stake in Enbridge Inc. by 3.6% in Q1, acquiring an additional 15,582 shares, bringing its total holdings to 446,046 shares valued at approximately $19.76 million.
• Enbridge reported earnings per share of $0.72 for the latest quarter, exceeding analyst expectations, despite revenues falling short at $7.27 billion against a forecast of $10.20 billion.
• Research firms have shown a mixed outlook on Enbridge, with ratings ranging from "sector perform" to "buy," and a consensus target price of $67.00.

Avantax Advisory Services Inc. increased its holdings in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 446,046 shares of the pipeline company's stock after acquiring an additional 15,582 shares during the period. Avantax Advisory Services Inc.'s holdings in Enbridge were worth $19,764,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Norges Bank acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $909,415,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock valued at $510,816,000 after buying an additional 9,621,425 shares during the period. Blackstone Inc. grew its stake in shares of Enbridge by 650.7% during the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock worth $242,619,000 after purchasing an additional 4,956,379 shares during the period. Deutsche Bank AG grew its stake in shares of Enbridge by 13.9% during the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Geode Capital Management LLC grew its stake in Enbridge by 30.5% in the fourth quarter. Geode Capital Management LLC now owns 13,217,112 shares of the pipeline company's stock valued at $571,389,000 after acquiring an additional 3,091,442 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research report on Monday, May 12th. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Enbridge Price Performance

NYSE ENB traded down $0.47 on Friday, hitting $45.00. 4,603,612 shares of the company's stock were exchanged, compared to its average volume of 3,833,071. The stock has a 50-day moving average of $45.41 and a 200-day moving average of $44.51. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 1.51. Enbridge Inc has a 52 week low of $36.38 and a 52 week high of $47.44. The stock has a market cap of $98.11 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 4.20 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The company had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. During the same period in the prior year, the company earned $0.92 EPS. Analysts expect 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.