Zions Bancorporation N.A. Has $10.56 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Zions Bancorporation N.A. raised its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 12.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 248,960 shares of the pipeline company’s stock after buying an additional 28,420 shares during the period. Enbridge makes up 0.7% of Zions Bancorporation N.A.’s investment portfolio, making the stock its 20th biggest position. Zions Bancorporation N.A.’s holdings in Enbridge were worth $10,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. apricus wealth LLC increased its stake in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after purchasing an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock valued at $1,252,000 after buying an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after buying an additional 230 shares during the last quarter. Wintrust Investments LLC increased its position 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 acquiring an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its holdings in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ENB shares. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Enbridge Trading Up 0.9 %

Shares of ENB stock opened at $44.25 on Tuesday. Enbridge Inc. has a 52-week low of $32.86 and a 52-week high of $45.78. The company has a 50-day simple moving average of $43.48 and a two-hundred day simple moving average of $42.39. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. 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.

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