Zions Bancorporation National Association UT Sells 27,607 Shares of Enbridge Inc $ENB

Zions Bancorporation National Association UT lessened its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,160 shares of the pipeline company’s stock after selling 27,607 shares during the period. Zions Bancorporation National Association UT’s holdings in Enbridge were worth $8,187,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. North Dallas Bank & Trust Co. purchased a new position in shares of Enbridge in the 4th quarter worth about $783,000. Focus Partners Advisor Solutions LLC raised its position in shares of Enbridge by 12.4% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 20,443 shares of the pipeline company’s stock worth $978,000 after purchasing an additional 2,261 shares during the last quarter. Marks Group Wealth Management Inc raised its position in shares of Enbridge by 13.0% in the 4th quarter. Marks Group Wealth Management Inc now owns 64,890 shares of the pipeline company’s stock worth $3,104,000 after purchasing an additional 7,465 shares during the last quarter. TIAA Trust National Association raised its position in shares of Enbridge by 8.3% in the 4th quarter. TIAA Trust National Association now owns 23,126 shares of the pipeline company’s stock worth $1,106,000 after purchasing an additional 1,776 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Enbridge by 3.5% in the 4th quarter. Franklin Resources Inc. now owns 1,250,227 shares of the pipeline company’s stock worth $59,820,000 after purchasing an additional 42,330 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ENB. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Enbridge in a research report on Friday, May 22nd. TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Scotiabank reissued an “outperform” rating on shares of Enbridge in a research report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Price Performance

NYSE ENB opened at $56.50 on Thursday. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The firm has a market capitalization of $123.37 billion, a P/E ratio of 26.52 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The company has a 50-day moving average price of $54.73 and a 200-day moving average price of $51.55.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a dividend yield of 6.9%. Enbridge’s dividend payout ratio is presently 133.80%.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.