Oppenheimer Asset Management Inc. decreased its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 23.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,863 shares of the pipeline company’s stock after selling 6,521 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Enbridge were worth $680,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Fiduciary Trust Co. boosted its stake in Enbridge by 8.8% during the fourth quarter. Fiduciary Trust Co. now owns 8,685 shares of the pipeline company’s stock worth $270,000 after acquiring an additional 699 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in Enbridge by 46.8% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 14,322 shares of the pipeline company’s stock worth $517,000 after acquiring an additional 4,564 shares in the last quarter. Advisor Partners LLC boosted its stake in Enbridge by 15.9% during the fourth quarter. Advisor Partners LLC now owns 14,945 shares of the pipeline company’s stock worth $464,000 after acquiring an additional 2,046 shares in the last quarter. North Star Asset Management Inc. bought a new stake in Enbridge during the fourth quarter worth about $275,000. Finally, D.A. Davidson & CO. boosted its stake in Enbridge by 17.4% during the fourth quarter. D.A. Davidson & CO. now owns 166,711 shares of the pipeline company’s stock worth $5,181,000 after acquiring an additional 24,649 shares in the last quarter. Hedge funds and other institutional investors own 49.65% of the company’s stock.
In other Enbridge news, insider Albert Monaco bought 7,569 shares of Enbridge stock in a transaction on Tuesday, December 4th. The stock was acquired at an average cost of $43.82 per share, with a total value of $331,673.58. Following the completion of the acquisition, the insider now owns 67,329 shares in the company, valued at $2,950,356.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Byron C. Neiles sold 64,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $43.10, for a total transaction of $2,758,400.00. Following the sale, the insider now directly owns 128,665 shares of the company’s stock, valued at $5,545,461.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. Evercore ISI assumed coverage on shares of Enbridge in a research note on Tuesday, February 5th. They set an “outperform” rating on the stock. ValuEngine raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. UBS Group lowered shares of Enbridge from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, CIBC reissued a “buy” rating and set a $57.00 price objective on shares of Enbridge in a research note on Tuesday, January 15th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $48.80.
Shares of ENB stock opened at $36.10 on Monday. Enbridge Inc has a 12 month low of $28.82 and a 12 month high of $37.69. The company has a market cap of $73.00 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 2.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.49.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 15th will be issued a dividend of $0.555 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.51. This represents a $2.22 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Thursday, February 14th. Enbridge’s dividend payout ratio is currently 131.82%.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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