Avantax Planning Partners Inc. Has $451,000 Position in Enbridge Inc. (NYSE:ENB)

Avantax Planning Partners Inc. cut its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,633 shares of the pipeline company’s stock after selling 248 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Enbridge were worth $451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Global View Capital Management LLC acquired a new position in shares of Enbridge during the 4th quarter valued at $675,000. Davis R M Inc. bought a new stake in shares of Enbridge in the 4th quarter worth $212,000. Meriwether Wealth & Planning LLC bought a new position in Enbridge during the fourth quarter worth about $417,000. Johnson Investment Counsel Inc. lifted its holdings in shares of Enbridge by 3.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 44,359 shares of the pipeline company’s stock worth $1,882,000 after buying an additional 1,425 shares in the last quarter. Finally, Garrison Bradford & Associates Inc. purchased a new stake in shares of Enbridge in the fourth quarter worth about $209,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Price Performance

Shares of NYSE ENB opened at $42.38 on Wednesday. Enbridge Inc. has a 1-year low of $32.85 and a 1-year high of $45.78. The company has a market cap of $92.34 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock’s 50-day moving average is $43.46 and its two-hundred day moving average is $42.17.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data 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. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the previous year, the firm posted $0.64 earnings per share. Analysts forecast that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

ENB has been the topic of a number of research analyst reports. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. 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 stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Enbridge Company 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.