Enbridge Inc. (NYSE:ENB) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 351,344 shares of the pipeline company’s stock after selling 12,718 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enbridge were worth $12,655,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Enbridge by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. TD Asset Management Inc lifted its stake in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after acquiring an additional 7,536,678 shares during the period. Canoe Financial LP lifted its stake in shares of Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after acquiring an additional 33,419,164 shares during the period. Wellington Management Group LLP raised its holdings in shares of Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in shares of Enbridge by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 29,995,342 shares of the pipeline company’s stock worth $1,079,833,000 after purchasing an additional 1,910,302 shares in the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group initiated coverage on shares of Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Stock Up 0.7 %

ENB traded up $0.25 on Wednesday, reaching $36.28. 4,299,081 shares of the company traded hands, compared to its average volume of 5,843,233. The stock’s 50 day moving average price is $35.89 and its 200-day moving average price is $35.54. Enbridge Inc. has a 52-week low of $31.03 and a 52-week high of $38.37. The company has a market cap of $77.13 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 3.48 and a beta of 0.90. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. On average, sell-side analysts expect that Enbridge Inc. will post 2.09 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.46%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is presently 136.04%.

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.