Enbridge Inc. (NYSE:ENB) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.3% during the 2nd quarter, Holdings Channel reports. The fund owned 4,850,364 shares of the pipeline company’s stock after purchasing an additional 531,695 shares during the quarter. Geode Capital Management LLC’s holdings in Enbridge were worth $193,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Tranquilli Financial Advisor LLC grew its holdings in Enbridge by 2.3% during the first quarter. Tranquilli Financial Advisor LLC now owns 11,780 shares of the pipeline company’s stock worth $429,000 after acquiring an additional 263 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV grew its holdings in Enbridge by 4.3% in the second quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 6,464 shares of the pipeline company’s stock valued at $259,000 after purchasing an additional 264 shares during the period. Maverick Capital Ltd. grew its holdings in Enbridge by 1.2% in the first quarter. Maverick Capital Ltd. now owns 22,439 shares of the pipeline company’s stock valued at $817,000 after purchasing an additional 273 shares during the period. Jacobi Capital Management LLC grew its holdings in Enbridge by 0.7% in the second quarter. Jacobi Capital Management LLC now owns 38,786 shares of the pipeline company’s stock valued at $1,553,000 after purchasing an additional 275 shares during the period. Finally, Holderness Investments Co. grew its holdings in Enbridge by 1.1% in the second quarter. Holderness Investments Co. now owns 26,527 shares of the pipeline company’s stock valued at $1,062,000 after purchasing an additional 278 shares during the period. 48.05% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on ENB. Scotiabank raised their target price on Enbridge from C$54.00 to C$55.00 and gave the company an “outperform” rating in a research report on Thursday, July 8th. Royal Bank of Canada lifted their price objective on Enbridge from C$56.00 to C$57.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 8th. BMO Capital Markets lifted their price objective on Enbridge from C$55.00 to C$57.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 8th. TD Securities lifted their price objective on Enbridge from C$54.00 to C$55.00 and gave the stock a “buy” rating in a research report on Wednesday, September 8th. Finally, Credit Suisse Group upgraded Enbridge from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $52.00 to $55.00 in a research report on Thursday, June 17th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $52.46.

Shares of NYSE ENB opened at $42.11 on Thursday. Enbridge Inc. has a twelve month low of $26.97 and a twelve month high of $42.11. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 1.10. The stock has a fifty day simple moving average of $39.75 and a 200-day simple moving average of $39.14. The stock has a market capitalization of $85.31 billion, a PE ratio of 18.15, a PEG ratio of 2.98 and a beta of 0.86.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, July 29th. The pipeline company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.11. Enbridge had a return on equity of 9.24% and a net margin of 14.99%. The business had revenue of $8.91 billion during the quarter, compared to analysts’ expectations of $9 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, equities analysts predict that Enbridge Inc. will post 2.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were paid a $0.6645 dividend. The ex-dividend date was Thursday, August 12th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.31%. Enbridge’s payout ratio is presently 147.51%.

About Enbridge

Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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