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

Allianz Asset Management GmbH lifted its position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB by 9.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,148,864 shares of the pipeline company's stock after purchasing an additional 96,591 shares during the period. Allianz Asset Management GmbH owned about 0.05% of Enbridge worth $48,736,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Boston Financial Mangement LLC purchased a new position in shares of Enbridge in the fourth quarter valued at about $224,000. First Bank & Trust grew its stake in shares of Enbridge by 0.5% in the fourth quarter. First Bank & Trust now owns 88,171 shares of the pipeline company's stock worth $3,741,000 after purchasing an additional 451 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in Enbridge by 1.7% during 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 bought a new stake in shares of Enbridge during the 4th quarter valued at $1,350,000. Finally, Cumberland Partners Ltd lifted its position in Enbridge by 10.0% during the 4th quarter. Cumberland Partners Ltd now owns 38,464 shares of the pipeline company's stock valued at $1,631,000 after acquiring an additional 3,489 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Performance

Shares of Enbridge stock traded up $0.13 during trading on Wednesday, hitting $41.78. 3,353,987 shares of the company's stock traded hands, compared to its average volume of 4,460,276. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The business has a 50-day simple moving average of $43.35 and a 200-day simple moving average of $41.96. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The stock has a market capitalization of $91.04 billion, a P/E ratio of 24.29, a PEG ratio of 3.92 and a beta of 0.94.

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

Enbridge Cuts Dividend

The firm also recently declared 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. This represents a $2.68 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge's payout ratio is currently 155.81%.

Analyst Ratings Changes

Several research firms have recently issued reports on ENB. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their target price on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Finally, TD Securities assumed coverage on Enbridge in a report on Wednesday, January 15th. They set a "buy" rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $67.00.

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.