Oppenheimer & Co. Inc. Sells 1,781 Shares of Enbridge Inc. (NYSE:ENB)

Oppenheimer & Co. Inc. lowered its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 375,641 shares of the pipeline company’s stock after selling 1,781 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enbridge were worth $13,369,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Rockwood Wealth Management LLC boosted its position in Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after acquiring an additional 298 shares during the period. Nations Financial Group Inc. IA ADV grew its position in Enbridge by 1.7% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock worth $649,000 after acquiring an additional 298 shares during the last quarter. Perigon Wealth Management LLC increased its stake in Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 314 shares during the period. Finally, RFG Advisory LLC lifted its position in Enbridge by 2.3% in the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $40.48 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $40.83. The firm has a market cap of $88.14 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 3.91 and a beta of 0.94. The business has a 50 day moving average price of $38.19 and a 200-day moving average price of $36.53.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.13. The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same quarter in the prior year, the company posted $0.51 EPS. Equities research analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.61%. Enbridge’s payout ratio is presently 134.01%.

Enbridge 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.