Zions Bancorporation National Association UT Decreases Holdings in Enbridge Inc $ENB

Zions Bancorporation National Association UT cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 13.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,160 shares of the pipeline company’s stock after selling 27,607 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Enbridge were worth $8,187,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Fin Capital Inc. grew its holdings in shares of Enbridge by 1.3% in the fourth quarter. Blue Fin Capital Inc. now owns 16,028 shares of the pipeline company’s stock worth $767,000 after purchasing an additional 213 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its holdings in shares of Enbridge by 3.4% in the fourth quarter. Guinness Atkinson Asset Management Inc now owns 6,475 shares of the pipeline company’s stock worth $309,000 after purchasing an additional 213 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Enbridge by 1.2% in the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock worth $820,000 after purchasing an additional 213 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Enbridge by 2.5% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 8,936 shares of the pipeline company’s stock worth $427,000 after purchasing an additional 218 shares during the last quarter. Finally, PFG Advisors grew its holdings in shares of Enbridge by 4.2% in the third quarter. PFG Advisors now owns 5,479 shares of the pipeline company’s stock worth $276,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ENB shares. Scotiabank restated an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Citigroup restated a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

NYSE:ENB opened at $56.50 on Thursday. The stock has a market cap of $123.37 billion, a P/E ratio of 26.52 and a beta of 0.58. The firm’s fifty day simple moving average is $54.73 and its 200 day simple moving average is $51.55. Enbridge Inc has a twelve month low of $43.59 and a twelve month high of $58.45. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69.

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

Enbridge Announces Dividend

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

Enbridge Company 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.