Allianz Asset Management GmbH Purchases 274,751 Shares of Enbridge Inc (NYSE:ENB)

Allianz Asset Management GmbH increased its position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 23.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,423,615 shares of the pipeline company's stock after buying an additional 274,751 shares during the quarter. Allianz Asset Management GmbH owned 0.07% of Enbridge worth $62,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. GQG Partners LLC increased its position in Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company's stock valued at $3,151,500,000 after purchasing an additional 1,495,742 shares during the period. TD Asset Management Inc. grew its position in shares of Enbridge by 2.8% during the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company's stock worth $1,643,935,000 after buying an additional 1,040,799 shares during the period. Deutsche Bank AG grew its position in shares of Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the period. Finally, Norges Bank acquired a new stake in shares of Enbridge during the 4th quarter worth approximately $909,415,000. Institutional investors and hedge funds own 54.60% of the company's stock.

Wall Street Analyst Weigh In

ENB has been the subject of several recent analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a research report on Monday, May 12th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 target price on shares of Enbridge in a report on Monday, May 12th. Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They issued a "buy" rating on the stock. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Performance

Shares of Enbridge stock traded down $0.05 during trading hours on Thursday, hitting $45.43. 2,212,823 shares of the company's stock traded hands, compared to its average volume of 4,009,724. Enbridge Inc has a 12-month low of $36.32 and a 12-month high of $47.44. The stock has a market capitalization of $99.05 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 4.24 and a beta of 0.79. The company has a fifty day simple moving average of $45.40 and a 200-day simple moving average of $44.48. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.73 and a quick ratio of 0.66.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. During the same period last year, the firm posted $0.92 EPS. Equities research analysts anticipate that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a $0.679 dividend. This is a boost from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend was Thursday, May 15th. Enbridge's payout ratio is currently 139.69%.

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.