Oppenheimer Asset Management Inc. Has $18.15 Million Stake in Enbridge Inc. (NYSE:ENB)

Oppenheimer Asset Management Inc. grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 446,818 shares of the pipeline company’s stock after buying an additional 4,205 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Enbridge were worth $18,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. raised its position in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the period. Stonegate Investment Group LLC grew its stake in shares of Enbridge by 66.5% in the third quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after buying an additional 13,515 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Enbridge by 816.2% in the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after buying an additional 19,344 shares in the last quarter. Ted Buchan & Co lifted its holdings in Enbridge by 43.5% during the 3rd quarter. Ted Buchan & Co now owns 48,799 shares of the pipeline company’s stock valued at $1,985,000 after purchasing an additional 14,791 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Enbridge during the 1st quarter valued at $1,133,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 0.3 %

Enbridge stock traded down $0.11 during trading on Wednesday, hitting $42.07. 304,010 shares of the company were exchanged, compared to its average volume of 4,857,198. The company has a market capitalization of $91.62 billion, a P/E ratio of 19.53, a PEG ratio of 4.16 and a beta of 0.93. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average is $41.01 and its 200 day moving average is $38.32. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $43.00.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the company earned $0.46 EPS. Analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.676 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a dividend yield of 6.43%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of research reports. Morgan Stanley began coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

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.