Enbridge Inc. (NYSE:ENB) Holdings Trimmed by Kovack Advisors Inc.

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

Several other hedge funds and other institutional investors have also modified their holdings of the business. Assenagon Asset Management S.A. grew its holdings in shares of Enbridge by 19.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock valued at $3,054,000 after acquiring an additional 12,431 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Enbridge during the third quarter valued at $35,000. Nicholas Hoffman & Company LLC. boosted its position in Enbridge by 46.7% during the third quarter. Nicholas Hoffman & Company LLC. now owns 9,837 shares of the pipeline company’s stock valued at $399,000 after purchasing an additional 3,133 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in Enbridge by 2.4% in the third quarter. First Trust Direct Indexing L.P. now owns 20,702 shares of the pipeline company’s stock valued at $841,000 after purchasing an additional 478 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its position in Enbridge by 7.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 91,532 shares of the pipeline company’s stock worth $3,717,000 after purchasing an additional 6,293 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of ENB stock opened at $41.74 on Friday. The company has a market capitalization of $90.94 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. 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 Inc. has a 12 month low of $32.85 and a 12 month high of $45.78. The stock has a 50 day moving average of $43.40 and a two-hundred day moving average of $41.95.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, equities analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ENB. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada increased their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Hold” and a consensus target price of $67.00.

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.