Oppenheimer & Co. Inc. Purchases 8,194 Shares of Enbridge Inc. (NYSE:ENB)

Oppenheimer & Co. Inc. lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,835 shares of the pipeline company’s stock after purchasing an additional 8,194 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enbridge were worth $15,588,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the first quarter valued at approximately $29,000. Grove Bank & Trust raised its position in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC raised its position in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

ENB has been the topic of several research reports. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th.

Enbridge Trading Up 0.1 %

Shares of ENB traded up $0.03 during mid-day trading on Wednesday, reaching $42.21. The company’s stock had a trading volume of 214,457 shares, compared to its average volume of 4,856,791. The company’s fifty day moving average price is $41.01 and its two-hundred day moving average price is $38.32. Enbridge Inc. has a 52 week low of $32.76 and a 52 week high of $43.00. 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 stock has a market cap of $91.92 billion, a PE ratio of 19.53, a P/E/G ratio of 4.16 and a beta of 0.93.

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

Enbridge Increases Dividend

The business also recently disclosed 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 of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.41%. Enbridge’s dividend payout ratio is 122.22%.

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.