Enbridge Inc $ENB Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. trimmed its position in Enbridge Inc (NYSE:ENBFree Report) (TSE:ENB) by 45.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,298 shares of the pipeline company’s stock after selling 20,873 shares during the quarter. Kovack Advisors Inc.’s holdings in Enbridge were worth $1,277,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. raised its stake in shares of Enbridge by 83.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after purchasing an additional 1,044,093 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Enbridge by 0.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,142,927 shares of the pipeline company’s stock worth $187,705,000 after purchasing an additional 32,268 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Enbridge by 15.3% in the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock valued at $83,176,000 after buying an additional 221,976 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Enbridge by 7.7% in the third quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock valued at $17,113,000 after buying an additional 24,165 shares during the last quarter. Finally, Aviva PLC raised its stake in Enbridge by 6.7% during the second quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock valued at $80,959,000 after buying an additional 112,305 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $51.50 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.68. The firm has a market capitalization of $112.35 billion, a PE ratio of 22.39 and a beta of 0.69. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $54.19. The business’s fifty day moving average price is $48.39 and its two-hundred day moving average price is $48.17.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 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 during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, research analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.97 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 7.5%. Enbridge’s payout ratio is currently 120.87%.

Key Enbridge News

Here are the key news stories impacting Enbridge this week:

Analysts Set New Price Targets

Several research analysts have recently commented on ENB shares. Citigroup reiterated a “buy” rating on shares of Enbridge in a research report on Thursday. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a report on Tuesday. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, November 10th. Finally, Weiss Ratings raised shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $65.00.

View Our Latest Analysis on Enbridge

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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