Enbridge Inc $ENB Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 8.2% during the second quarter, Holdings Channel.com reports. The fund owned 633,414 shares of the pipeline company’s stock after purchasing an additional 48,063 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Enbridge were worth $28,706,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its holdings in Enbridge by 1.2% during the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after buying an additional 221 shares in the last quarter. Capital Investment Counsel Inc boosted its holdings in Enbridge by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company’s stock worth $333,000 after buying an additional 223 shares in the last quarter. Loudon Investment Management LLC boosted its holdings in Enbridge by 1.1% during the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after buying an additional 240 shares in the last quarter. Key Client Fiduciary Advisors LLC boosted its holdings in Enbridge by 1.7% during the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after buying an additional 242 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its holdings in Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after buying an additional 243 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 0.6%

Enbridge stock opened at $46.90 on Friday. The company has a market capitalization of $102.27 billion, a P/E ratio of 23.10, a P/E/G ratio of 4.32 and a beta of 0.78. The firm’s fifty day simple moving average is $48.44 and its 200-day simple moving average is $46.53. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the firm earned $0.58 EPS. Sell-side analysts forecast that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 15th were issued a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Friday, August 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is presently 134.98%.

Analyst Ratings Changes

A number of research firms recently commented on ENB. Argus raised their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. CIBC lowered shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Finally, Cibc World Mkts lowered shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of $60.50.

Enbridge Company 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.