Deutsche Bank AG Makes New Investment in Enbridge Inc $ENB

Deutsche Bank AG purchased a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, Holdings Channel.com reports. The firm purchased 34,135,814 shares of the pipeline company’s stock, valued at approximately $1,850,502,000. Enbridge accounts for approximately 0.5% of Deutsche Bank AG’s holdings, making the stock its 28th largest holding.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Enbridge by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after purchasing an additional 2,067,516 shares during the last quarter. RNC Capital Management LLC lifted its stake in shares of Enbridge by 1.6% in the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company’s stock worth $69,196,000 after buying an additional 22,637 shares during the last quarter. SCS Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter worth $9,204,000. Western Wealth Management LLC boosted its holdings in shares of Enbridge by 346.8% during the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company’s stock worth $1,959,000 after buying an additional 28,091 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in shares of Enbridge by 22.8% during the 4th quarter. Intact Investment Management Inc. now owns 987,976 shares of the pipeline company’s stock worth $47,275,000 after buying an additional 183,163 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ENB. Wall Street Zen upgraded shares of Enbridge from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Raymond James Financial cut shares of Enbridge from an “outperform” rating to a “market perform” rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wolfe Research set a $50.00 price objective on Enbridge in a research report on Tuesday, August 4th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Trading Down 0.5%

Enbridge stock opened at $50.63 on Tuesday. The business has a 50 day moving average price of $54.57 and a two-hundred day moving average price of $53.97. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12 month low of $45.03 and a 12 month high of $58.45. The stock has a market cap of $110.58 billion, a price-to-earnings ratio of 27.07 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter last year, the firm earned $0.65 EPS. As a group, equities analysts forecast that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a dividend of $0.97 per share. The ex-dividend date is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. Enbridge’s payout ratio is currently 147.06%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.