Why Enbridge Stock Is Falling Today

Enbridge (NYSE: ENB) is making a big bet on natural gas, and investors are worried that the Canadian energy distribution and production company's planned acquisition could cause it some near-term indigestion. Shares of Enbridge fell by as much as 6.7% on Wednesday morning following the company's big news.

As of 11:36 a.m. ET, they were still trading 5.6% lower.

Late Tuesday, Enbridge announced plans to acquire three natural gas utilities from Dominion Energy (NYSE: D) for a total of $14 billion, including $9.4 billion in cash and about $4.6 billion of assumed debt. The deal would add natural gas utility operations in Ohio, North Carolina, Utah, Idaho, and Wyoming to Enbridge's existing Ontario-based operation.

Source Fool.com