Kovack Advisors Inc. Has $744,000 Stock Holdings in Enbridge Inc. (NYSE:ENB)

Kovack Advisors Inc. reduced its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,325 shares of the pipeline company’s stock after selling 1,139 shares during the period. Kovack Advisors Inc.’s holdings in Enbridge were worth $744,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oppenheimer Asset Management Inc. raised its stake in Enbridge by 1.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 446,818 shares of the pipeline company’s stock valued at $18,145,000 after buying an additional 4,205 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Enbridge by 2.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 383,835 shares of the pipeline company’s stock worth $15,588,000 after acquiring an additional 8,194 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in Enbridge by 8.8% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after acquiring an additional 15,207 shares during the period. Hartline Investment Corp lifted its holdings in Enbridge by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 26,035 shares of the pipeline company’s stock valued at $1,057,000 after purchasing an additional 1,850 shares during the last quarter. Finally, Gibson Wealth Advisors LLC bought a new position in Enbridge during the third quarter worth $203,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Stock Up 0.8 %

ENB stock opened at $42.51 on Thursday. Enbridge Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $43.00. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $92.56 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 4.10 and a beta of 0.93. The business’s fifty day moving average price is $41.01 and its two-hundred day moving average price is $38.32.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period last year, the firm earned $0.46 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.36%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is presently 122.22%.

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.