Kovack Advisors Inc. Sells 368 Shares of Enbridge Inc. (NYSE:ENB)

Kovack Advisors Inc. lessened its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,225 shares of the pipeline company’s stock after selling 368 shares during the quarter. Kovack Advisors Inc.’s holdings in Enbridge were worth $696,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ENB. Qube Research & Technologies Ltd grew its stake in Enbridge by 4.5% during the third quarter. Qube Research & Technologies Ltd now owns 94,966 shares of the pipeline company’s stock valued at $3,152,000 after acquiring an additional 4,120 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Enbridge by 31.2% in the third quarter. Schonfeld Strategic Advisors LLC now owns 103,401 shares of the pipeline company’s stock worth $3,432,000 after buying an additional 24,600 shares during the period. JT Stratford LLC grew its holdings in Enbridge by 5.8% in the third quarter. JT Stratford LLC now owns 8,672 shares of the pipeline company’s stock worth $288,000 after purchasing an additional 478 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Enbridge during the third quarter valued at approximately $657,000. Finally, Baker Avenue Asset Management LP grew its stake in shares of Enbridge by 422.7% in the third quarter. Baker Avenue Asset Management LP now owns 2,943 shares of the pipeline company’s stock worth $98,000 after acquiring an additional 2,380 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of NYSE:ENB traded up $0.08 during mid-day trading on Thursday, reaching $35.89. 2,220,354 shares of the company traded hands, compared to its average volume of 4,510,094. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The company’s 50 day moving average price is $36.02 and its 200-day moving average price is $35.63. The firm has a market cap of $76.59 billion, a PE ratio of 18.22, a PEG ratio of 3.36 and a beta of 0.92. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $38.37.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. On average, equities analysts expect that Enbridge Inc. will post 2.13 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.677 dividend. This represents a $2.71 annualized dividend and a dividend yield of 7.55%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 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.