CoreCap Advisors LLC Grows Stock Holdings in Enbridge Inc. (NYSE:ENB)

CoreCap Advisors LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 24.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,479 shares of the pipeline company’s stock after purchasing an additional 1,483 shares during the period. CoreCap Advisors LLC’s holdings in Enbridge were worth $317,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of Enbridge by 10.7% during the fourth quarter. Cetera Investment Advisers now owns 898,083 shares of the pipeline company’s stock worth $38,103,000 after purchasing an additional 86,987 shares in the last quarter. Blackstone Inc. lifted its position in shares of Enbridge by 650.7% during the fourth quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company’s stock worth $242,619,000 after purchasing an additional 4,956,379 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Enbridge during the fourth quarter worth $403,000. Brown Advisory Inc. lifted its position in shares of Enbridge by 1.3% during the fourth quarter. Brown Advisory Inc. now owns 273,516 shares of the pipeline company’s stock worth $11,605,000 after purchasing an additional 3,599 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of Enbridge by 2.1% during the fourth quarter. Baird Financial Group Inc. now owns 187,933 shares of the pipeline company’s stock worth $7,974,000 after purchasing an additional 3,887 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ENB has been the topic of several recent analyst reports. Raymond James raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Citigroup initiated coverage on shares of Enbridge in a report on Friday, April 4th. They issued a “buy” rating on the stock. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada upped their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Stock Performance

NYSE:ENB opened at $46.10 on Monday. Enbridge Inc. has a twelve month low of $34.60 and a twelve month high of $47.08. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average of $44.24 and a 200-day moving average of $43.33. The firm has a market cap of $100.50 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the company posted $0.92 earnings per share. Analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.679 per share. This represents a $2.72 annualized dividend and a yield of 5.89%. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 139.69%.

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.