Alpha Cubed Investments LLC Takes Position in Enbridge Inc. (NYSE:ENB)

Alpha Cubed Investments LLC purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,732 shares of the pipeline company’s stock, valued at approximately $206,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC lifted its stake in shares of Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after buying an additional 280 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 300 shares during the last quarter. Capital Investment Counsel Inc boosted its stake 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 buying an additional 326 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in Enbridge by 5.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after buying an additional 341 shares in the last quarter. Finally, Marino Stram & Associates LLC raised 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 acquiring an additional 344 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group initiated coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Stifel Nicolaus started coverage on shares of 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 issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Stock Up 0.2 %

Shares of NYSE ENB opened at $35.60 on Thursday. The stock has a market cap of $75.67 billion, a P/E ratio of 16.95, a PEG ratio of 3.36 and a beta of 0.83. The business’s fifty day simple moving average is $35.26 and its 200-day simple moving average is $34.88. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

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

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.61%. Enbridge’s dividend payout ratio (DPR) 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.