Geode Capital Management LLC Has $818.62 Million Stock Position in Enbridge Inc $ENB

Geode Capital Management LLC boosted its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 20.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,785,430 shares of the pipeline company’s stock after purchasing an additional 2,989,992 shares during the period. Geode Capital Management LLC’s holdings in Enbridge were worth $818,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ENB. IFP Advisors Inc raised its holdings in shares of Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after buying an additional 221 shares in the last quarter. Loudon Investment Management LLC grew its position in Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock valued at $939,000 after acquiring an additional 240 shares during the last quarter. Key Client Fiduciary Advisors LLC raised its stake in Enbridge by 1.7% during the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company’s stock worth $662,000 after acquiring an additional 242 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its stake in Enbridge by 4.8% during the first quarter. Sound View Wealth Advisors Group LLC now owns 5,304 shares of the pipeline company’s stock worth $235,000 after acquiring an additional 243 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Enbridge by 0.6% in the second quarter. CENTRAL TRUST Co now owns 44,999 shares of the pipeline company’s stock worth $2,039,000 after acquiring an additional 248 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $48.28 on Friday. Enbridge Inc has a one year low of $39.73 and a one year high of $50.54. The company has a market cap of $105.29 billion, a PE ratio of 23.78, a P/E/G ratio of 4.31 and a beta of 0.76. The stock has a 50-day moving average of $48.28 and a 200-day moving average of $46.82. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. On average, equities research analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a dividend of $0.9425 per share. The ex-dividend date is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a yield of 7.8%. Enbridge’s dividend payout ratio is currently 147.25%.

Analyst Ratings Changes

Several brokerages recently issued reports on ENB. Zacks Research lowered shares of Enbridge from a “hold” rating to a “strong sell” rating in a report on Tuesday. Jefferies Financial Group upgraded shares of Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Wednesday, November 5th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Finally, Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.