Zurcher Kantonalbank Zurich Cantonalbank Acquires 30,063 Shares of Enbridge Inc. (NYSE:ENB)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912,570 shares of the pipeline company’s stock after purchasing an additional 30,063 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Enbridge were worth $37,112,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Swiss National Bank grew its position in shares of Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after purchasing an additional 207,200 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock worth $7,650,000 after acquiring an additional 15,207 shares during the period. Stonegate Investment Group LLC increased its holdings in Enbridge by 66.5% in the 3rd quarter. Stonegate Investment Group LLC now owns 33,833 shares of the pipeline company’s stock valued at $1,374,000 after buying an additional 13,515 shares during the period. CIBC Asset Management Inc raised its position in shares of Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock valued at $984,205,000 after buying an additional 936,863 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Enbridge by 816.2% in the third quarter. Lindbrook Capital LLC now owns 21,714 shares of the pipeline company’s stock valued at $882,000 after acquiring an additional 19,344 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock opened at $42.90 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The company’s 50-day moving average is $41.57 and its 200-day moving average is $38.82. The stock has a market capitalization of $93.44 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 4.22 and a beta of 0.93. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results 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. The business had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter in the prior year, the company earned $0.46 earnings per share. Equities research analysts expect that Enbridge Inc. will post 2.04 EPS for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 121.76%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge 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.