Enbridge Inc (NYSE:ENB) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its position in Enbridge Inc by 2.5%, selling 912,396 shares, and its holdings now represent about 0.6% of the company's total stock.
• Enbridge announced a quarterly dividend increase to $0.6839, which will be paid to shareholders, marking a boost from the previous dividend of $0.68 and providing a yield of 5.8%.
• Analysts maintain a consensus rating of "Moderate Buy" for Enbridge shares, with a price target of $67.00, reflecting continued optimism in the company's financial outlook.

Deutsche Bank AG decreased its position in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,423,816 shares of the pipeline company's stock after selling 912,396 shares during the quarter. Enbridge accounts for about 0.6% of Deutsche Bank AG's holdings, making the stock its 22nd biggest position. Deutsche Bank AG owned about 1.62% of Enbridge worth $1,569,629,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Enbridge by 137.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock valued at $1,458,128,000 after acquiring an additional 19,074,827 shares during the last quarter. Blackstone Inc. raised its holdings in Enbridge by 650.7% in the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after acquiring an additional 4,956,379 shares during the last quarter. Vanguard Group Inc. raised its holdings in Enbridge by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company's stock valued at $4,124,271,000 after acquiring an additional 1,569,879 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Enbridge by 20.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 6,818,919 shares of the pipeline company's stock valued at $289,044,000 after acquiring an additional 1,135,000 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments acquired a new position in Enbridge in the 4th quarter valued at $38,978,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENB shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Tuesday. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Down 0.1%

NYSE:ENB traded down $0.05 on Friday, reaching $47.03. The stock had a trading volume of 2,387,065 shares, compared to its average volume of 3,980,450. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.58. The company has a 50-day moving average of $45.48 and a 200 day moving average of $44.63. The stock has a market cap of $102.55 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 4.33 and a beta of 0.79. Enbridge Inc has a 12-month low of $38.44 and a 12-month high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data 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 company had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period in the prior year, the company posted $0.58 EPS. On average, research analysts predict that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be paid a $0.6839 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.68. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.8%. Enbridge's dividend payout ratio (DPR) is currently 133.99%.

Enbridge Company 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.