Enbridge Inc. (NYSE:ENB) Shares Sold by Zions Bancorporation N.A.

Zions Bancorporation N.A. trimmed its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,540 shares of the pipeline company’s stock after selling 5,207 shares during the period. Enbridge accounts for approximately 0.7% of Zions Bancorporation N.A.’s holdings, making the stock its 18th largest holding. Zions Bancorporation N.A.’s holdings in Enbridge were worth $8,956,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of Enbridge by 19.4% in the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 1,136 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Enbridge by 5.9% in the 1st quarter. Bleakley Financial Group LLC now owns 17,485 shares of the pipeline company’s stock valued at $633,000 after purchasing an additional 973 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Enbridge during the 1st quarter worth approximately $250,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Enbridge during the 1st quarter worth approximately $1,133,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock opened at $42.51 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. Enbridge Inc. has a 52-week low of $32.76 and a 52-week high of $43.00. The stock’s 50 day moving average is $41.06 and its two-hundred day moving average is $38.35. The company has a market capitalization of $92.56 billion, a PE ratio of 19.68, a P/E/G ratio of 4.10 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the business earned $0.46 EPS. Analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a yield of 6.36%. Enbridge’s payout ratio is currently 122.22%.

Analyst Upgrades and Downgrades

ENB has been the topic of several recent research reports. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

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.