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

Zions Bancorporation National Association UT cut its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 254,386 shares of the pipeline company’s stock after selling 1,522 shares during the quarter. Enbridge comprises approximately 0.6% of Zions Bancorporation National Association UT’s investment 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 SEC filing.

A number of other institutional investors have also recently modified their holdings of ENB. Dagco Inc. acquired a new position in Enbridge in the first quarter valued at about $25,000. Whipplewood Advisors LLC increased its holdings in Enbridge by 112.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after buying an additional 308 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Enbridge in the 1st quarter valued at approximately $28,000. Accent Capital Management LLC acquired a new position in shares of Enbridge in the 1st quarter valued at approximately $30,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Enbridge during the 2nd quarter worth approximately $36,000. 54.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ENB shares. Scotiabank restated a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Zacks Research lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Finally, National Bankshares reissued a “sector perform” rating on shares of Enbridge in a report on Tuesday, August 5th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Enbridge Trading Up 1.7%

NYSE ENB opened at $47.69 on Friday. The firm has a market capitalization of $104.00 billion, a PE ratio of 23.49, a price-to-earnings-growth 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. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. Enbridge Inc has a 12 month low of $39.73 and a 12 month high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 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 firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period in the prior year, the company posted $0.55 earnings per share. On average, analysts expect that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The firm also recently declared 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. This represents a $3.77 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Friday, November 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.68. Enbridge’s dividend payout ratio (DPR) is 132.02%.

Enbridge 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.