597,754 Shares in Enbridge Inc $ENB Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new position in Enbridge Inc (NYSE:ENB) (TSE:ENB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 597,754 shares of the pipeline company’s stock, valued at approximately $32,404,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares in the last quarter. Norges Bank acquired a new stake in shares of Enbridge in the 4th quarter worth approximately $1,195,559,000. Geode Capital Management LLC lifted its stake in shares of Enbridge by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after acquiring an additional 1,415,995 shares during the period. Legal & General Group Plc boosted its holdings in shares of Enbridge by 4.6% in the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock valued at $942,806,000 after acquiring an additional 858,323 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Enbridge by 4.9% in the fourth quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company’s stock valued at $870,577,000 after acquiring an additional 844,594 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of NYSE ENB opened at $50.89 on Friday. Enbridge Inc has a twelve month low of $45.03 and a twelve month high of $58.45. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $111.15 billion, a price-to-earnings ratio of 27.22 and a beta of 0.58. The firm has a 50-day moving average of $54.67 and a two-hundred day moving average of $53.91.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion during the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. During the same quarter last year, the firm posted $0.65 EPS. As a group, analysts expect that Enbridge Inc will post 2.11 earnings per share for the current fiscal year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.97 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 annualized dividend and a yield of 7.6%. Enbridge’s dividend payout ratio is currently 152.41%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ENB. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, July 21st. Wolfe Research set a $50.00 target price on Enbridge in a research report on Tuesday, August 4th. Raymond James Financial lowered Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. TD Securities reiterated a “hold” rating on shares of Enbridge in a research report on Thursday, July 16th. Finally, Wall Street Zen raised Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.