Kovack Advisors Inc. Sells 1,139 Shares of Enbridge Inc. (NYSE:ENB)

Kovack Advisors Inc. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of Enbridge by 19.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock worth $253,000 after acquiring an additional 1,136 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of Enbridge by 5.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,485 shares of the pipeline company’s stock valued at $633,000 after purchasing an additional 973 shares during the last quarter. Koshinski Asset Management Inc. acquired a new position in shares of Enbridge during the 1st quarter worth $250,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Enbridge during the 1st quarter worth $1,133,000. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ENB. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th.

Enbridge Trading Up 0.8 %

NYSE ENB opened at $42.51 on Thursday. The company has a market cap of $92.56 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge Inc. has a twelve month low of $32.76 and a twelve month high of $43.00. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business’s fifty day moving average is $41.01 and its 200 day moving average is $38.32.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period last year, the firm posted $0.46 earnings per share. As a group, sell-side analysts expect that Enbridge Inc. will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

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

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.