Allianz Asset Management GmbH Buys 96,591 Shares of Enbridge Inc. (NYSE:ENB)

Allianz Asset Management GmbH boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 9.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,148,864 shares of the pipeline company’s stock after acquiring an additional 96,591 shares during the quarter. Allianz Asset Management GmbH owned about 0.05% of Enbridge worth $48,736,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its stake in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares during the last quarter. National Bank of Canada FI increased its stake in Enbridge by 12.8% during the third quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after acquiring an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Enbridge by 10.8% during the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after buying an additional 985,546 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Trading Down 0.6 %

ENB opened at $41.74 on Friday. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78. The stock has a market cap of $90.94 billion, a price-to-earnings ratio of 24.26, a P/E/G ratio of 3.92 and a beta of 0.94. The stock’s 50 day moving average price is $43.35 and its 200-day moving average price is $41.89. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Enbridge Cuts Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada upped their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.00.

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.