DekaBank Deutsche Girozentrale Has $19.60 Million Stake in Enbridge Inc $ENB

DekaBank Deutsche Girozentrale grew its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Several other institutional investors have also made changes to their positions in the business. Drive Wealth Management LLC boosted its holdings in shares of Enbridge by 3.4% in the 2nd quarter. Drive Wealth Management LLC now owns 8,234 shares of the pipeline company’s stock worth $373,000 after acquiring an additional 269 shares in the last quarter. Balboa Wealth Partners acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $421,000. Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Enbridge by 4.2% in the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 10,350 shares of the pipeline company’s stock worth $469,000 after acquiring an additional 418 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Enbridge in the 2nd quarter worth approximately $192,000. Finally, Woodard & Co. Asset Management Group Inc. ADV boosted its holdings in shares of Enbridge by 32.1% in the 2nd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 14,431 shares of the pipeline company’s stock worth $654,000 after acquiring an additional 3,508 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Trading Up 0.9%

ENB opened at $47.72 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.75 and a quick ratio of 0.65. The company has a market cap of $104.06 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78. The firm has a 50 day simple moving average of $48.46 and a 200 day simple moving average of $46.41. Enbridge Inc has a fifty-two week low of $39.73 and a fifty-two week high of $50.54.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $0.58 earnings per share. On average, sell-side analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a dividend of $0.6839 per share. This represents a $2.74 dividend on an annualized basis and a dividend yield of 5.7%. This is a positive change 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 presently 134.98%.

Wall Street Analysts Forecast Growth

ENB has been the topic of several recent analyst reports. Argus boosted their target price on Enbridge from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Scotiabank reaffirmed a “sector perform” rating on shares of Enbridge in a research note on Monday. Jefferies Financial Group raised shares of Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Sunday, September 21st. Finally, Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.50.

About Enbridge

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.