Geode Capital Management LLC Purchases 985,546 Shares of Enbridge Inc. (NYSE:ENB)

Geode Capital Management LLC grew its holdings in shares of Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,125,670 shares of the pipeline company's stock after buying an additional 985,546 shares during the period. Geode Capital Management LLC owned 0.46% of Enbridge worth $416,431,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENB. Richardson Financial Services Inc. raised its holdings in Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company's stock worth $45,000 after purchasing an additional 246 shares in the last quarter. Associated Banc Corp raised its holdings in Enbridge by 3.6% in the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company's stock worth $288,000 after purchasing an additional 248 shares in the last quarter. Centaurus Financial Inc. lifted its position in Enbridge by 1.7% during the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company's stock valued at $608,000 after buying an additional 256 shares during the period. First PREMIER Bank boosted its holdings in shares of Enbridge by 1.7% during the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company's stock valued at $631,000 after buying an additional 257 shares in the last quarter. Finally, Keudell Morrison Wealth Management grew its position in shares of Enbridge by 1.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 20,242 shares of the pipeline company's stock worth $822,000 after buying an additional 277 shares during the period. Institutional investors own 54.60% of the company's stock.

Enbridge Stock Down 0.3 %

Enbridge stock traded down $0.14 during trading hours on Friday, hitting $41.91. The stock had a trading volume of 2,346,253 shares, compared to its average volume of 4,870,875. The stock's 50-day moving average price is $42.02 and its 200-day moving average price is $39.32. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $44.13. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $91.28 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the business earned $0.46 EPS. Equities research analysts anticipate that Enbridge Inc. will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.39%. Enbridge's dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $63.00.

Enbridge Profile

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.