Oppenheimer & Co. Inc. Raises Position in Enbridge Inc. (NYSE:ENB)

Oppenheimer & Co. Inc. increased its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 386,264 shares of the pipeline company’s stock after buying an additional 2,429 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enbridge were worth $16,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Enbridge by 1,514.7% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after acquiring an additional 4,502,115 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in Enbridge by 4,120.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,571,669 shares of the pipeline company’s stock valued at $185,655,000 after acquiring an additional 4,463,335 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. National Bank of Canada FI increased its stake in Enbridge by 12.8% in the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its stake in Enbridge by 55.2% in the third quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock valued at $168,258,000 after acquiring an additional 1,472,789 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Up 0.3 %

Shares of NYSE:ENB opened at $41.78 on Thursday. The stock’s 50-day moving average price is $43.38 and its 200-day moving average price is $41.95. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The stock has a market capitalization of $91.04 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date 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 is currently 155.81%.

Wall Street Analyst Weigh In

A number of research firms recently commented on ENB. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average 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.