Enbridge Inc. (NYSE:ENB) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,986 shares of the pipeline company’s stock after selling 1,339 shares during the quarter. Kovack Advisors Inc.’s holdings in Enbridge were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ENB. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Enbridge in the 4th quarter valued at about $29,000. Fortitude Family Office LLC bought a new position in shares of Enbridge during the third quarter worth about $35,000. Darwin Wealth Management LLC acquired a new position in Enbridge in the third quarter worth about $37,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after buying an additional 580 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $41.74 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market cap of $90.94 billion, a PE ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. The stock has a 50 day simple moving average of $43.40 and a 200-day simple moving average of $41.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the company earned $0.64 EPS. On average, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” 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.