Oppenheimer Asset Management Inc. Acquires 4,881 Shares of Enbridge Inc. (NYSE:ENB)

Oppenheimer Asset Management Inc. increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 451,699 shares of the pipeline company’s stock after buying an additional 4,881 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Enbridge were worth $19,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ENB. Assenagon Asset Management S.A. boosted its holdings in Enbridge by 19.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,098 shares of the pipeline company’s stock worth $3,054,000 after buying an additional 12,431 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Enbridge by 0.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 434,873 shares of the pipeline company’s stock worth $17,734,000 after buying an additional 2,753 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in Enbridge by 25.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 16,898 shares of the pipeline company’s stock worth $686,000 after buying an additional 3,402 shares during the period. Orrstown Financial Services Inc. bought a new position in Enbridge in the 3rd quarter valued at $206,000. Finally, Fortitude Family Office LLC bought a new position in Enbridge in the 3rd quarter valued at $35,000. 54.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. Royal Bank of Canada raised 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. TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Performance

NYSE ENB opened at $41.78 on Thursday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market capitalization 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 company has a fifty day moving average of $43.38 and a 200-day moving average of $41.95.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the company earned $0.64 EPS. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Enbridge Cuts Dividend

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

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.