Fmr LLC Acquires 425,706 Shares of Enbridge Inc. (NYSE:ENB)

FMR LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 9.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,932,822 shares of the pipeline company's stock after purchasing an additional 425,706 shares during the period. FMR LLC owned approximately 0.23% of Enbridge worth $200,384,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ENB. Grove Bank & Trust increased its stake in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after purchasing an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its holdings in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock worth $32,000 after acquiring an additional 280 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge during the 2nd quarter worth about $28,000. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Enbridge Trading Up 1.2 %

ENB traded up $0.51 during trading on Tuesday, reaching $43.87. The company had a trading volume of 2,211,217 shares, compared to its average volume of 4,856,076. The firm's 50-day simple moving average is $41.62 and its 200 day simple moving average is $38.89. The company has a market cap of $95.55 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 4.26 and a beta of 0.94. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.87. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the previous year, the business posted $0.46 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.04 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 15th were issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a dividend yield of 6.16%. This is a positive change from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, November 15th. Enbridge's payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent research reports. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Finally, Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They set an "equal weight" rating on the stock.

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.