Deutsche Bank AG Sells 2,426,039 Shares of Enbridge Inc $ENB

Deutsche Bank AG reduced its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 6.1% during the fourth quarter, HoldingsChannel reports. The firm owned 37,132,967 shares of the pipeline company’s stock after selling 2,426,039 shares during the period. Enbridge comprises 0.6% of Deutsche Bank AG’s portfolio, making the stock its 21st biggest holding. Deutsche Bank AG’s holdings in Enbridge were worth $1,776,070,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ENB. Triumph Capital Management bought a new position in shares of Enbridge during the third quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new position in shares of Enbridge during the third quarter valued at $28,000. Garner Asset Management Corp bought a new position in shares of Enbridge during the fourth quarter valued at $30,000. Imprint Wealth LLC bought a new position in shares of Enbridge during the third quarter valued at $31,000. Finally, Tucker Asset Management LLC bought a new position in shares of Enbridge during the fourth quarter valued at $38,000. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.3%

NYSE ENB opened at $55.52 on Wednesday. The stock’s 50-day moving average price is $54.68 and its 200-day moving average price is $51.49. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 52 week low of $43.59 and a 52 week high of $58.45. The company has a market capitalization of $121.23 billion, a P/E ratio of 26.07 and a beta of 0.58.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $8.49 billion. During the same quarter last year, the company earned $1.03 earnings per share. On average, equities research analysts predict that Enbridge Inc will post 2.2 earnings per share for the current year.

Enbridge Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ENB. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, May 24th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.50.

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.