Enbridge Inc. (NYSE:ENB) Holdings Raised by Fmr LLC

Fmr LLC boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,932,822 shares of the pipeline company’s stock after buying an additional 425,706 shares during the period. Fmr LLC’s holdings in Enbridge were worth $200,384,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter valued at $28,000. Grove Bank & Trust raised its stake in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its holdings in shares of Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the period. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the third quarter valued at about $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of NYSE ENB opened at $43.38 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 12 month low of $32.85 and a 12 month high of $43.70. The company has a market cap of $94.48 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.26 and a beta of 0.93. The business has a fifty day simple moving average of $41.62 and a 200-day simple moving average of $38.89.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the firm earned $0.46 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.04 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 15th were paid a dividend of $0.676 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend was Friday, November 15th. Enbridge’s payout ratio is 121.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upgraded 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 shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.