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

Zions Bancorporation N.A. trimmed its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 225,747 shares of the pipeline company’s stock after selling 5,735 shares during the quarter. Enbridge makes up approximately 0.6% of Zions Bancorporation N.A.’s investment portfolio, making the stock its 19th largest position. Zions Bancorporation N.A.’s holdings in Enbridge were worth $8,034,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TruNorth Capital Management LLC purchased a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the 1st quarter worth $31,000. PFS Partners LLC raised its holdings in shares of Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the period. Finally, Northwest Bank & Trust Co acquired a new position in shares of Enbridge during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Trading Up 0.6 %

Shares of ENB opened at $40.48 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $38.19 and a 200 day moving average price of $36.53. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.83. The firm has a market capitalization of $88.14 billion, a P/E ratio of 20.55, a P/E/G ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the firm earned $0.51 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.61%. Enbridge’s dividend payout ratio is currently 134.01%.

About Enbridge

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.