Alpha Cubed Investments LLC Makes New $311,000 Investment in Enbridge Inc (NYSE:ENB)

Alpha Cubed Investments LLC acquired a new stake in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,012 shares of the pipeline company's stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Capital Management Associates Inc acquired a new stake in shares of Enbridge in the 1st quarter valued at $243,000. Centennial Bank AR raised its stake in Enbridge by 18.0% during the 1st quarter. Centennial Bank AR now owns 4,624 shares of the pipeline company's stock worth $205,000 after acquiring an additional 705 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Enbridge by 2.9% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 174,309 shares of the pipeline company's stock worth $7,724,000 after acquiring an additional 4,888 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Enbridge by 11.1% during the 1st quarter. TD Private Client Wealth LLC now owns 111,534 shares of the pipeline company's stock worth $4,936,000 after acquiring an additional 11,186 shares in the last quarter. Finally, Capital Advisors Inc. OK raised its stake in Enbridge by 23.7% during the 1st quarter. Capital Advisors Inc. OK now owns 878,476 shares of the pipeline company's stock worth $38,925,000 after acquiring an additional 168,130 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ENB. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Royal Bank Of Canada reiterated an "outperform" rating and set a $67.00 price target on shares of Enbridge in a research note on Monday, May 12th. Citigroup began coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Finally, Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Trading Down 1.4%

NYSE ENB opened at $44.13 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The firm has a market cap of $96.22 billion, a PE ratio of 22.75, a P/E/G ratio of 4.22 and a beta of 0.79. Enbridge Inc has a one year low of $35.10 and a one year high of $47.44. The firm's fifty day moving average is $45.68 and its two-hundred day moving average is $44.29.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. During the same period in the previous year, the business posted $0.92 earnings per share. Analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th were issued a $0.679 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a dividend yield of 6.15%. Enbridge's payout ratio is presently 139.69%.

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.

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