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

Oppenheimer Asset Management Inc. grew its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 451,699 shares of the pipeline company’s stock after purchasing 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.

Other hedge funds have also bought and sold shares of the company. apricus wealth LLC lifted its position in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 220 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after purchasing an additional 227 shares during the last quarter. Armstrong Advisory Group Inc. lifted its position in Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Enbridge by 3.6% during the fourth quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock valued at $297,000 after purchasing an additional 242 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Enbridge stock opened at $41.78 on Thursday. The firm has a market capitalization of $91.04 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The firm has a 50-day moving average price of $43.38 and a 200-day moving average price of $41.95. 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 posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter last year, the firm posted $0.64 EPS. As a group, equities research analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

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

Analysts Set New Price Targets

ENB has been the subject of several research reports. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three 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 currently has a consensus rating of “Hold” and an average target price of $67.00.

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.