Oppenheimer & Co. Inc. Acquires 2,429 Shares of Enbridge Inc. (NYSE:ENB)

Oppenheimer & Co. Inc. increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 386,264 shares of the pipeline company’s stock after acquiring an additional 2,429 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enbridge were worth $16,389,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ENB. Assenagon Asset Management S.A. grew its holdings in shares of Enbridge by 19.8% in the third quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock valued at $3,054,000 after acquiring an additional 12,431 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Enbridge by 0.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock valued at $17,734,000 after purchasing an additional 2,753 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in Enbridge by 25.2% in the third quarter. J.W. Cole Advisors Inc. now owns 16,898 shares of the pipeline company’s stock valued at $686,000 after purchasing an additional 3,402 shares during the last quarter. Orrstown Financial Services Inc. purchased a new position in Enbridge in the third quarter valued at approximately $206,000. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the third quarter valued at approximately $35,000. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Up 0.3 %

NYSE:ENB opened at $41.78 on Thursday. The company has a market cap of $91.04 billion, a P/E ratio of 24.29, a P/E/G ratio of 3.92 and a beta of 0.94. The stock’s fifty day moving average price is $43.38 and its two-hundred day moving average price is $41.95. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, analysts expect that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Enbridge has a consensus rating of “Hold” and a consensus price target of $67.00.

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.