Deutsche Bank AG Buys New Shares in Enbridge Inc $ENB

Deutsche Bank AG bought a new position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 34,135,814 shares of the pipeline company’s stock, valued at approximately $1,850,502,000. Enbridge makes up about 0.5% of Deutsche Bank AG’s holdings, making the stock its 28th largest holding. Deutsche Bank AG owned about 1.56% of Enbridge as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Enbridge in the fourth quarter valued at $261,000. AQR Capital Management LLC boosted its stake in shares of Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after acquiring an additional 11,599 shares in the last quarter. AXA S.A. grew its holdings in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after acquiring an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after acquiring an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Enbridge by 80.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after purchasing an additional 34,912 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Performance

Shares of ENB opened at $50.63 on Tuesday. The company has a market capitalization of $110.58 billion, a PE ratio of 27.07 and a beta of 0.58. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.66 and a current ratio of 0.72. The company’s 50 day moving average price is $54.57 and its 200 day moving average price is $53.97. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. Enbridge had a net margin of 7.20% and a return on equity of 11.17%. The company had revenue of $9.70 billion during the quarter, compared to the consensus estimate of $8.67 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. Research analysts expect that Enbridge Inc will post 2.11 EPS for the current fiscal year.

Enbridge Dividend Announcement

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

Analyst Upgrades and Downgrades

ENB has been the subject of several analyst reports. TD Securities reaffirmed a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Raymond James Financial cut Enbridge from an “outperform” rating to a “market perform” rating in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada upped their price objective on shares of Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.00.

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.