Enbridge Inc. (NYSE:ENB) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 20.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 442,613 shares of the pipeline company’s stock after purchasing an additional 74,742 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Enbridge were worth $15,753,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in Enbridge in the 4th quarter valued at $714,662,000. TD Asset Management Inc grew its holdings in shares of Enbridge by 24.9% in the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after purchasing an additional 7,536,678 shares during the period. M&G Plc purchased a new stake in shares of Enbridge in the first quarter valued at about $152,843,000. Cibc World Market Inc. increased its position in Enbridge by 12.8% during the second quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock worth $1,157,802,000 after purchasing an additional 3,693,495 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Enbridge by 66.9% during the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after purchasing an additional 3,624,089 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 0.6 %

ENB stock opened at $40.73 on Friday. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.83. The firm has a market cap of $88.69 billion, a PE ratio of 20.68, a PEG ratio of 3.91 and a beta of 0.94. The firm’s 50 day moving average price is $38.29 and its 200-day moving average price is $36.57. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the business posted $0.51 EPS. On average, equities research analysts anticipate that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.57%. Enbridge’s dividend payout ratio (DPR) is 134.01%.

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.