Oppenheimer & Co. Inc. boosted its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.1% in the fourth quarter, Holdings Channel reports. The firm owned 259,155 shares of the pipeline company’s stock after acquiring an additional 12,521 shares during the period. Oppenheimer & Co. Inc.’s holdings in Enbridge were worth $10,135,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spectrum Management Group Inc. bought a new stake in Enbridge in the third quarter valued at about $113,000. Fieldpoint Private Securities LLC bought a new stake in shares of Enbridge in the third quarter worth about $130,000. Valeo Financial Advisors LLC bought a new stake in shares of Enbridge in the third quarter worth about $146,000. Field & Main Bank bought a new stake in shares of Enbridge in the fourth quarter worth about $149,000. Finally, Patten Group Inc. increased its holdings in shares of Enbridge by 333.2% in the third quarter. Patten Group Inc. now owns 15,752 shares of the pipeline company’s stock worth $152,000 after acquiring an additional 12,116 shares in the last quarter. Institutional investors and hedge funds own 62.35% of the company’s stock.
Several brokerages have issued reports on ENB. Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Bank of America began coverage on Enbridge in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Morgan Stanley lowered their price target on Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a report on Friday, November 17th. Canaccord Genuity restated a “buy” rating and issued a $54.00 price target on shares of Enbridge in a report on Thursday, November 30th. Finally, GMP Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $51.25.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.5278 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s dividend payout ratio is 123.08%.
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Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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