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Kovack Advisors Inc. Raises Stock Position in Enbridge Inc (NYSE:ENB)

Enbridge logo with Energy background

Kovack Advisors Inc. increased its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 312.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,143 shares of the pipeline company's stock after buying an additional 53,157 shares during the period. Kovack Advisors Inc.'s holdings in Enbridge were worth $3,108,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ENB. Garde Capital Inc. acquired a new position in Enbridge during the 1st quarter valued at about $26,000. Financial Gravity Asset Management Inc. purchased a new position in Enbridge in the first quarter valued at approximately $28,000. GeoWealth Management LLC lifted its stake in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Enbridge during the 4th quarter valued at $39,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Finally, Citigroup began coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $67.00.

Check Out Our Latest Stock Report on Enbridge

Enbridge Trading Down 1.0%

ENB stock traded down $0.47 during trading on Friday, reaching $45.00. The company had a trading volume of 4,603,612 shares, compared to its average volume of 3,833,071. Enbridge Inc has a 52 week low of $36.38 and a 52 week high of $47.44. The company has a market cap of $98.11 billion, a P/E ratio of 23.19, a PEG ratio of 4.25 and a beta of 0.79. The business has a 50 day moving average of $45.41 and a 200 day moving average of $44.50. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter last year, the firm earned $0.92 earnings per share. As a group, sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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