Oppenheimer Asset Management Inc. Increases Stake in Enbridge Inc (NYSE:ENB)

Oppenheimer Asset Management Inc. boosted its holdings in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 29.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,351 shares of the pipeline company's stock after acquiring an additional 133,652 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Enbridge were worth $25,937,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ENB. Garde Capital Inc. purchased a new position in Enbridge during the first quarter worth approximately $26,000. Wintrust Investments LLC increased its stake in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares during the last quarter. GeoWealth Management LLC boosted its position in shares of Enbridge by 436.4% during the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after acquiring an additional 611 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 365 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in Enbridge during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Trading Up 0.4%

Shares of NYSE:ENB traded up $0.17 during mid-day trading on Monday, reaching $44.95. 3,021,542 shares of the company were exchanged, compared to its average volume of 4,061,849. Enbridge Inc has a 1 year low of $34.68 and a 1 year high of $47.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66. The firm's 50-day simple moving average is $45.80 and its 200 day simple moving average is $44.06. The firm has a market cap of $98.01 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 4.22 and a beta of 0.81.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The company had revenue of $7.27 billion for the quarter, compared to analysts' expectations of $10.20 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. Equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a dividend of $0.679 per share. This represents a $2.72 dividend on an annualized basis and a yield of 6.04%. This is a boost from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's dividend payout ratio (DPR) is 140.21%.

Wall Street Analyst Weigh In

ENB has been the topic of a number of analyst reports. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Citigroup began coverage on Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $67.00.

About Enbridge

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.