Enbridge Inc. (NYSE:ENB) Stock Holdings Boosted by AlphaCore Capital LLC

AlphaCore Capital LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,150 shares of the pipeline company’s stock after purchasing an additional 4,927 shares during the period. AlphaCore Capital LLC’s holdings in Enbridge were worth $1,915,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ENB. Concorde Asset Management LLC increased its stake in Enbridge by 4.6% during the 3rd quarter. Concorde Asset Management LLC now owns 6,827 shares of the pipeline company’s stock valued at $277,000 after buying an additional 300 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Enbridge by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,845,232 shares of the pipeline company’s stock valued at $237,698,000 after acquiring an additional 242,424 shares during the period. Integrated Investment Consultants LLC bought a new position in Enbridge during the 3rd quarter valued at $5,986,000. LPL Financial LLC grew its holdings in shares of Enbridge by 7.0% in the 3rd quarter. LPL Financial LLC now owns 2,943,094 shares of the pipeline company’s stock worth $119,519,000 after acquiring an additional 193,262 shares during the last quarter. Finally, Tradewinds LLC. lifted its holdings in shares of Enbridge by 3.4% during the third quarter. Tradewinds LLC. now owns 11,251 shares of the pipeline company’s stock valued at $457,000 after purchasing an additional 368 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Enbridge Price Performance

Shares of ENB opened at $43.46 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company has a market capitalization of $94.65 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 4.18 and a beta of 0.93. The business’s 50-day moving average is $41.34 and its 200-day moving average is $38.62. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $43.55.

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

Enbridge Increases Dividend

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

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.