Zions Bancorporation National Association UT Sells 1,522 Shares of Enbridge Inc $ENB

Zions Bancorporation National Association UT reduced its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,386 shares of the pipeline company’s stock after selling 1,522 shares during the quarter. Enbridge comprises 0.6% of Zions Bancorporation National Association UT’s portfolio, making the stock its 22nd biggest position. Zions Bancorporation National Association UT’s holdings in Enbridge were worth $11,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. IFP Advisors Inc grew its holdings in Enbridge by 1.2% during the second quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock valued at $826,000 after purchasing an additional 221 shares during the period. Loudon Investment Management LLC raised its holdings in Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company’s stock worth $939,000 after purchasing an additional 240 shares during the period. Key Client Fiduciary Advisors LLC boosted its position in shares of 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 purchasing an additional 242 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its position in shares of 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 purchasing an additional 243 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of Enbridge by 30.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,107 shares of the pipeline company’s stock valued at $50,000 after buying an additional 259 shares during the period. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

ENB opened at $47.69 on Friday. The company has a market capitalization of $104.00 billion, a price-to-earnings ratio of 23.49, a P/E/G ratio of 4.31 and a beta of 0.76. The business’s 50-day moving average price is $48.28 and its two-hundred day moving average price is $46.76. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. 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 posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the business earned $0.55 earnings per share. Equities analysts expect that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a $0.9425 dividend. This represents a $3.77 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s payout ratio is currently 132.02%.

Wall Street Analyst Weigh In

Several analysts recently commented on ENB shares. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Argus boosted their target price on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Enbridge Company Profile

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.