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

AlphaCore Capital LLC decreased its holdings in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 19.6% in the fourth quarter, according to the company in its most recent 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 quarter.

A number of other hedge funds also recently bought and sold shares of ENB. Wintrust Investments LLC increased its holdings in Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 238 shares during the last quarter. GeoWealth Management LLC lifted its position in shares of Enbridge by 436.4% during the 4th 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 last quarter. Hopwood Financial Services Inc. purchased a new stake in shares of Enbridge during the 4th quarter worth $42,000. Vision Financial Markets LLC purchased a new stake in Enbridge in the fourth quarter valued at $47,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in Enbridge in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ENB. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Raymond James upgraded shares of Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a research report 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. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $67.00.

Enbridge Price Performance

Shares of ENB stock traded down $0.04 during midday trading on Tuesday, reaching $46.02. 5,138,547 shares of the company were exchanged, compared to its average volume of 4,066,753. The company's 50 day moving average price is $44.78 and its two-hundred day moving average price is $43.64. The company has a market cap of $100.33 billion, a P/E ratio of 26.76, a PEG ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. Enbridge Inc. has a 12 month low of $34.60 and a 12 month high of $47.08.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same period last year, the firm posted $0.92 earnings per share. On average, sell-side analysts expect that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.90%. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Thursday, May 15th. 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.