Zions Bancorporation N.A. Acquires 28,420 Shares of Enbridge Inc. (NYSE:ENB)

Zions Bancorporation N.A. raised its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248,960 shares of the pipeline company’s stock after purchasing an additional 28,420 shares during the quarter. Enbridge makes up 0.7% of Zions Bancorporation N.A.’s holdings, making the stock its 20th biggest position. Zions Bancorporation N.A.’s holdings in Enbridge were worth $10,563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ENB. McIlrath & Eck LLC lifted its holdings in Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter worth $29,000. Wintrust Investments LLC lifted its holdings in shares of Enbridge by 47.8% during the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after buying an additional 238 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Enbridge by 149.9% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 967 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 580 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in shares of Enbridge in the fourth quarter valued at about $42,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ENB has been the subject of several analyst reports. CIBC reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Trading Up 0.9 %

Shares of Enbridge stock opened at $44.25 on Tuesday. The firm’s 50-day moving average price is $43.48 and its two-hundred day moving average price is $42.39. The company has a market capitalization of $96.42 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm posted $0.64 earnings per share. On average, analysts forecast that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

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.