Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Enbridge Inc. (NYSE:ENB)

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

A number of other institutional investors have also recently bought and sold shares of ENB. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter valued at $28,000. Grove Bank & Trust increased its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in Enbridge in the 3rd quarter worth about $35,000. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $42.90 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $43.70. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company has a market cap 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. The stock has a 50-day moving average price of $41.57 and a 200-day moving average price of $38.82.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the company earned $0.46 EPS. As a group, equities analysts forecast that Enbridge Inc. will post 2.04 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.30%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is 121.76%.

Analyst Ratings Changes

ENB has been the topic of several recent research reports. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

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.