Allianz Asset Management GmbH Grows Stock Position in Enbridge Inc. (NYSE:ENB)

Allianz Asset Management GmbH increased its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,148,864 shares of the pipeline company’s stock after buying an additional 96,591 shares during the quarter. Allianz Asset Management GmbH’s holdings in Enbridge were worth $48,736,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Boston Financial Mangement LLC acquired a new stake in Enbridge in the 4th quarter valued at approximately $224,000. First Bank & Trust increased its holdings in Enbridge by 0.5% in the 4th quarter. First Bank & Trust now owns 88,171 shares of the pipeline company’s stock valued at $3,741,000 after purchasing an additional 451 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Enbridge by 1.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 50,095 shares of the pipeline company’s stock valued at $2,126,000 after purchasing an additional 841 shares during the last quarter. Corps Capital Advisors LLC acquired a new stake in Enbridge in the 4th quarter valued at approximately $1,350,000. Finally, Cumberland Partners Ltd increased its holdings in Enbridge by 10.0% in the 4th quarter. Cumberland Partners Ltd now owns 38,464 shares of the pipeline company’s stock valued at $1,631,000 after purchasing an additional 3,489 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ENB. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada boosted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Performance

NYSE:ENB opened at $41.74 on Friday. The company has a fifty day simple moving average of $43.35 and a two-hundred day simple moving average of $41.89. The company has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 3.92 and a beta of 0.94. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the firm posted $0.64 earnings per share. As a group, equities analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. Enbridge’s dividend payout ratio (DPR) is currently 155.81%.

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.