AlphaCore Capital LLC Has $1.61 Million Holdings in Enbridge Inc. (NYSE:ENB)

AlphaCore Capital LLC decreased its stake in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,924 shares of the pipeline company's stock after selling 9,226 shares during the period. AlphaCore Capital LLC's holdings in Enbridge were worth $1,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wintrust Investments LLC grew its holdings in shares of Enbridge by 47.8% during the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares in the last quarter. GeoWealth Management LLC boosted its holdings in Enbridge by 436.4% during 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 in the last quarter. Hopwood Financial Services Inc. acquired a new stake in Enbridge during the fourth quarter valued at approximately $42,000. Vision Financial Markets LLC acquired a new stake in Enbridge during the fourth quarter valued at approximately $47,000. Finally, Synergy Asset Management LLC acquired a new stake in Enbridge during the fourth quarter valued at approximately $51,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.41 on Wednesday, hitting $45.63. The stock had a trading volume of 4,268,109 shares, compared to its average volume of 4,067,557. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The business's 50 day moving average is $44.82 and its two-hundred day moving average is $43.66. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The stock has a market cap of $99.48 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued 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. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period in the prior year, the firm posted $0.92 EPS. Analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.679 per share. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 5.95%. The ex-dividend date is Thursday, May 15th. Enbridge's dividend payout ratio is 139.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ENB shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. National Bankshares reiterated a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Raymond James raised Enbridge to a "moderate buy" rating in a research note on Wednesday, April 23rd. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Finally, CIBC reissued an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company 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.