Deutsche Bank AG Trims Position in Enbridge Inc $ENB

Deutsche Bank AG cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,132,967 shares of the pipeline company’s stock after selling 2,426,039 shares during the period. Enbridge accounts for 0.6% of Deutsche Bank AG’s portfolio, making the stock its 21st biggest position. Deutsche Bank AG owned approximately 1.70% of Enbridge worth $1,776,070,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Triumph Capital Management purchased a new position in shares of Enbridge during the third quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new stake in Enbridge in the third quarter worth $28,000. Imprint Wealth LLC purchased a new stake in Enbridge in the third quarter worth $31,000. Garner Asset Management Corp purchased a new stake in Enbridge in the fourth quarter worth $30,000. Finally, Tucker Asset Management LLC purchased a new stake in Enbridge in the fourth quarter worth $38,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research note on Tuesday, February 17th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.50.

Enbridge Trading Up 0.3%

NYSE ENB opened at $55.52 on Wednesday. Enbridge Inc has a 12 month low of $43.59 and a 12 month high of $58.45. The stock has a market cap of $121.23 billion, a P/E ratio of 26.07 and a beta of 0.58. The stock’s fifty day moving average price is $54.68 and its 200-day moving average price is $51.49. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. As a group, equities analysts forecast that Enbridge Inc will post 2.2 EPS for the current fiscal year.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge’s dividend payout ratio is currently 133.80%.

Enbridge Company Profile

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.