41,197 Enbridge Inc $ENB Shares Bought by Oppenheimer & Co. Inc.

Key Points

• Oppenheimer & Co. increased its Enbridge stake by 12% in the third quarter, buying 41,197 additional shares and bringing its holdings to 385,768 shares valued at approximately $17.9 million.
• Institutional investors own 54.6% of Enbridge, with several other investment firms also increasing their positions during recent quarters.
• Enbridge shares were trading at $48.28, while analysts maintained a “Moderate Buy” consensus with an average price target of $65.88; the company also exceeded quarterly earnings and revenue estimates.

Oppenheimer & Co. Inc. lifted its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 385,768 shares of the pipeline company's stock after acquiring an additional 41,197 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Enbridge were worth $17,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC increased its stake in shares of Enbridge by 114.6% in the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock valued at $27,000 after buying an additional 267 shares during the period. GK Wealth Management LLC bought a new position in Enbridge in the 3rd quarter valued at approximately $25,000. Quintet Private Bank Europe S.A. boosted its position in Enbridge by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company's stock worth $28,000 after buying an additional 300 shares during the period. City Holding Co. boosted its position in Enbridge by 121.5% during the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company's stock worth $35,000 after buying an additional 356 shares during the period. Finally, Steigerwald Gordon & Koch Inc. boosted its position in Enbridge by 99.7% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company's stock worth $37,000 after buying an additional 345 shares during the period. Institutional investors own 54.60% of the company's stock.

Enbridge Trading Up 0.3%

Shares of ENB stock opened at $48.28 on Tuesday. The stock has a market cap of $107.61 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 5.75 and a beta of 0.60. The stock has a 50-day moving average of $48.49 and a 200-day moving average of $52.07. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. During the same period last year, the company earned $0.65 earnings per share. On average, equities research analysts forecast that Enbridge Inc will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

ENB has been the topic of a number of research reports. National Bank Financial raised shares of Enbridge from a "sector perform" rating to an "outperform" rating in a report on Tuesday, September 15th. The Goldman Sachs Group initiated coverage on shares of Enbridge in a research note on Wednesday, September 30th. They set a "neutral" rating and a $50.00 price target for the company. TD Securities reaffirmed a "buy" rating on shares of Enbridge in a research note on Friday, October 16th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Enbridge in a report on Thursday. Finally, TD raised shares of Enbridge to a "buy" rating in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Enbridge presently has an average rating of "Moderate Buy" and a consensus price target of $65.88.

Enbridge Company Profile

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company's operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.

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