AlphaCore Capital LLC Has $2.13 Million Holdings in Enbridge Inc (NYSE:ENB)

Key Points

• AlphaCore Capital LLC increased its holdings in Enbridge Inc by 26.7%, acquiring an additional 10,132 shares in the first quarter, bringing their total ownership to 48,056 shares valued at approximately $2.13 million.
• Enbridge recently declared a quarterly dividend of $0.6839 per share, an increase from its prior dividend, representing an annualized dividend yield of 5.8%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Enbridge, with an average price target of $67.00, reflecting a positive outlook from analysts following recent upgrades.

AlphaCore Capital LLC grew its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 26.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,056 shares of the pipeline company's stock after purchasing an additional 10,132 shares during the period. AlphaCore Capital LLC's holdings in Enbridge were worth $2,129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Garde Capital Inc. bought a new stake in Enbridge during the first quarter worth about $26,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge during the first quarter worth about $28,000. Accent Capital Management LLC bought a new stake in Enbridge during the first quarter worth about $30,000. GeoWealth Management LLC lifted its position in Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the period. Finally, Wolff Wiese Magana LLC lifted its position in Enbridge by 91.3% during the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after purchasing an additional 365 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Tuesday. Royal Bank Of Canada reissued an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, Jefferies Financial Group raised shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.00.

Enbridge Trading Down 0.1%

NYSE ENB traded down $0.05 during trading hours on Friday, reaching $47.03. The company's stock had a trading volume of 2,387,065 shares, compared to its average volume of 3,980,450. The firm has a fifty day simple moving average of $45.48 and a 200-day simple moving average of $44.63. The stock has a market cap of $102.55 billion, a P/E ratio of 23.17, a P/E/G ratio of 4.32 and a beta of 0.79. Enbridge Inc has a 52 week low of $38.44 and a 52 week high of $47.44. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.66.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to analyst estimates of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the business earned $0.58 EPS. Equities analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.6839 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.8%. Enbridge's dividend payout ratio (DPR) is 133.99%.

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.