5,732 Shares in Enbridge Inc. (NYSE:ENB) Purchased by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC purchased a new stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,732 shares of the pipeline company’s stock, valued at approximately $206,000.

A number of other large investors also recently made changes to their positions in ENB. Harbor Investment Advisory LLC raised its position in Enbridge by 5.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after acquiring an additional 280 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 300 shares during the last quarter. Capital Investment Counsel Inc increased its position in Enbridge by 5.2% during the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after acquiring an additional 326 shares during the period. First Citizens Bank & Trust Co. grew its position in Enbridge by 5.1% during the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after buying an additional 341 shares in the last quarter. Finally, Marino Stram & Associates LLC grew its holdings in shares of Enbridge by 1.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

Shares of Enbridge stock opened at $35.60 on Thursday. The firm has a 50 day simple moving average of $35.26 and a 200 day simple moving average of $34.88. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The firm has a market cap of $75.67 billion, a P/E ratio of 16.95, a P/E/G ratio of 3.36 and a beta of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Sell-side analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a $0.677 dividend. This represents a $2.71 dividend on an annualized basis and a yield of 7.61%. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is currently 129.05%.

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.