AlphaCore Capital LLC Acquires 4,927 Shares of Enbridge Inc. (NYSE:ENB)

AlphaCore Capital LLC raised its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 47,150 shares of the pipeline company’s stock after acquiring an additional 4,927 shares during the quarter. AlphaCore Capital LLC’s holdings in Enbridge were worth $1,915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ENB. TruNorth Capital Management LLC acquired a new stake in Enbridge in the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. bought a new position in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the first quarter worth $29,000. Grove Bank & Trust boosted its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC grew its stake in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE:ENB opened at $43.46 on Friday. The company has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 4.18 and a beta of 0.93. The company has a 50-day moving average of $41.34 and a 200-day moving average of $38.62. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $43.55. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter last year, the company earned $0.46 earnings per share. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be paid a $0.676 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.22%. Enbridge’s payout ratio is currently 121.76%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ENB shares. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company.

About Enbridge

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.