Kovack Advisors Inc. Decreases Position in Enbridge Inc $ENB

Kovack Advisors Inc. decreased its position in Enbridge Inc (NYSE:ENBFree Report) (TSE:ENB) by 45.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,298 shares of the pipeline company’s stock after selling 20,873 shares during the period. Kovack Advisors Inc.’s holdings in Enbridge were worth $1,277,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC raised its position in Enbridge by 1.2% during the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after acquiring an additional 213 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Enbridge by 1.8% during the 3rd quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock worth $609,000 after purchasing an additional 215 shares in the last quarter. Copperleaf Capital LLC raised its position in shares of Enbridge by 3.6% during the 3rd quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 217 shares during the last quarter. South Plains Financial Inc. raised its position in shares of Enbridge by 13.2% during the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its holdings in Enbridge by 2.9% during the 3rd quarter. AdvisorNet Financial Inc now owns 7,824 shares of the pipeline company’s stock valued at $395,000 after buying an additional 221 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ENB shares. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a report on Tuesday. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Citigroup reiterated a “buy” rating on shares of Enbridge in a report on Thursday. Finally, Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Read Our Latest Stock Analysis on Enbridge

Enbridge Stock Down 0.2%

Shares of NYSE:ENB opened at $51.50 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.68 and a debt-to-equity ratio of 1.70. The firm has a market cap of $112.35 billion, a price-to-earnings ratio of 22.39 and a beta of 0.69. The stock’s 50-day moving average price is $48.39 and its two-hundred day moving average price is $48.17. Enbridge Inc has a 12-month low of $39.73 and a 12-month high of $54.19.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The business had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same period last year, the company earned $0.75 earnings per share. On average, research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 7.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s dividend payout ratio is presently 120.87%.

Enbridge News Roundup

Here are the key news stories impacting Enbridge this week:

About Enbridge

(Free Report)

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

See Also

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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