DekaBank Deutsche Girozentrale Purchases 5,044 Shares of Enbridge Inc $ENB

DekaBank Deutsche Girozentrale raised its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 434,873 shares of the pipeline company’s stock after purchasing an additional 5,044 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Enbridge were worth $19,595,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Dagco Inc. bought a new stake in Enbridge in the first quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. bought a new stake in Enbridge in the first quarter valued at approximately $28,000. Accent Capital Management LLC bought a new stake in Enbridge in the first quarter valued at approximately $30,000. Private Wealth Asset Management LLC increased its stake in Enbridge by 289.7% in the second quarter. Private Wealth Asset Management LLC now owns 834 shares of the pipeline company’s stock valued at $38,000 after purchasing an additional 620 shares in the last quarter. Finally, Brentview Investment Management LLC bought a new stake in Enbridge in the first quarter valued at approximately $41,000. Institutional investors own 54.60% of the company’s stock.

Analyst Ratings Changes

ENB has been the subject of several research reports. Cibc World Mkts downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. National Bankshares reissued a “sector perform” rating on shares of Enbridge in a research report on Tuesday, August 5th. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Argus increased their price objective on shares of Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Finally, CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.50.

Enbridge Stock Up 0.9%

Enbridge stock opened at $47.72 on Thursday. The company has a market cap of $104.06 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78. Enbridge Inc has a 1-year low of $39.73 and a 1-year high of $50.54. The company has a fifty day simple moving average of $48.46 and a 200 day simple moving average of $46.41. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same quarter last year, the firm earned $0.58 earnings per share. Research analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a $0.6839 dividend. This represents a $2.74 dividend on an annualized basis and a yield of 5.7%. This is an increase from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Friday, August 15th. Enbridge’s payout ratio is 134.98%.

Enbridge 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.