Allianz SE Takes Position in Enbridge Inc (NYSE:ENB)

Key Points

• Allianz SE has acquired a new position in Enbridge Inc, purchasing 277,000 shares valued at approximately $12.26 million in the first quarter.
• Enbridge has increased its quarterly dividend to $0.6839, representing a yield of 5.9%, with a payout ratio of 140.21%.
• Recent analyst reports have upgraded Enbridge's stock rating to a Moderate Buy, with an average price target of $67.00.

Allianz SE purchased a new position in Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 277,000 shares of the pipeline company's stock, valued at approximately $12,258,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Garde Capital Inc. bought a new stake in shares of Enbridge in the first quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new position in Enbridge in the first quarter worth $28,000. GeoWealth Management LLC boosted its holdings in Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock worth $32,000 after purchasing an additional 611 shares during the period. Wolff Wiese Magana LLC boosted its holdings in Enbridge by 91.3% in the first quarter. Wolff Wiese Magana LLC now owns 765 shares of the pipeline company's stock worth $34,000 after purchasing an additional 365 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in Enbridge in the fourth quarter worth $39,000. Institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the subject of a number of research reports. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. National Bankshares reaffirmed a "sector perform" rating on shares of Enbridge in a report on Monday, May 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a report on Monday, May 12th. Finally, BMO Capital Markets reissued 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 issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Enbridge Stock Performance

Shares of ENB opened at $46.18 on Friday. Enbridge Inc has a 1 year low of $36.50 and a 1 year high of $47.44. The company has a market cap of $100.69 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 4.30 and a beta of 0.79. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The firm has a fifty day moving average of $45.39 and a 200-day moving average of $44.55.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate 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 10.16% and a return on equity of 10.41%. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, equities analysts anticipate that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 15th will be issued a $0.6839 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 5.9%. Enbridge's dividend payout ratio is currently 140.21%.

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.

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