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

Geode Capital Management LLC raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 30.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,217,112 shares of the pipeline company’s stock after buying an additional 3,091,442 shares during the period. Geode Capital Management LLC’s holdings in Enbridge were worth $571,389,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Enbridge during the 4th quarter valued at about $909,415,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Enbridge by 396.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company’s stock valued at $510,816,000 after acquiring an additional 9,621,425 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Enbridge during the fourth quarter valued at about $180,941,000. Vanguard Group Inc. boosted its stake in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. Finally, National Bank of Canada FI grew its position in Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

ENB has been the topic of several research reports. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada increased their price objective on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

Shares of Enbridge stock opened at $45.36 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The business has a 50 day simple moving average of $43.49 and a two-hundred day simple moving average of $42.59. The stock has a market capitalization of $98.84 billion, a P/E ratio of 26.37, a PEG ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12 month low of $32.86 and a 12 month high of $46.12.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the company earned $0.64 EPS. As a group, analysts predict that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

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.