Avantax Advisory Services Inc. Has $7.20 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Avantax Advisory Services Inc. lowered its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,019 shares of the pipeline company’s stock after selling 442 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Enbridge were worth $7,201,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. US Bancorp DE raised its stake in Enbridge by 21.2% in the 1st quarter. US Bancorp DE now owns 461,607 shares of the pipeline company’s stock worth $16,701,000 after purchasing an additional 80,711 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Enbridge by 10.8% in the first quarter. Russell Investments Group Ltd. now owns 3,783,153 shares of the pipeline company’s stock valued at $136,710,000 after buying an additional 367,217 shares in the last quarter. Headlands Technologies LLC boosted its stake in shares of Enbridge by 1,443.0% in the first quarter. Headlands Technologies LLC now owns 49,221 shares of the pipeline company’s stock valued at $1,781,000 after buying an additional 46,031 shares during the period. Sei Investments Co. increased its stake in Enbridge by 6.1% during the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock worth $9,922,000 after acquiring an additional 15,650 shares during the period. Finally, Concurrent Investment Advisors LLC raised its stake in Enbridge by 3.2% in the first quarter. Concurrent Investment Advisors LLC now owns 24,193 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 740 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.4 %

Shares of NYSE ENB traded up $0.16 during trading on Wednesday, reaching $36.17. The company had a trading volume of 1,879,735 shares, compared to its average volume of 5,472,852. The stock has a market cap of $77.18 billion, a P/E ratio of 18.34, a PEG ratio of 3.34 and a beta of 0.92. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.37. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The company’s fifty day moving average price is $35.95 and its 200-day moving average price is $35.62.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The firm had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. As a group, research analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were paid a $0.677 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.49%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s payout ratio is currently 136.04%.

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.