Enbridge Inc $ENB Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in shares of Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 874,019 shares of the pipeline company's stock after purchasing an additional 23,797 shares during the period. Allianz Asset Management GmbH's holdings in Enbridge were worth $47,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENB. Triumph Capital Management acquired a new stake in shares of Enbridge in the third quarter worth approximately $26,000. Arlington Trust Co LLC raised its position in shares of Enbridge by 114.6% in the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock valued at $27,000 after buying an additional 267 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new position in shares of Enbridge in the third quarter worth about $28,000. Inspire Investing LLC acquired a new position in Enbridge during the fourth quarter worth about $29,000. Finally, Imprint Wealth LLC purchased a new stake in Enbridge during the 3rd quarter valued at about $31,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Raymond James Financial cut Enbridge from an "outperform" rating to a "market perform" rating in a report on Friday, July 31st. US Capital Advisors upgraded Enbridge from a "hold" rating to a "moderate buy" rating in a report on Thursday, August 20th. Wolfe Research set a $50.00 price objective on shares of Enbridge in a report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Enbridge from a "neutral" rating to a "sector outperform" rating in a research report on Thursday, August 27th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Performance

NYSE ENB opened at $50.14 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.72 and a quick ratio of 0.66. The company has a market cap of $109.51 billion, a P/E ratio of 26.81, a P/E/G ratio of 5.94 and a beta of 0.57. The stock has a 50-day moving average of $53.02 and a two-hundred day moving average of $53.95. Enbridge Inc has a 1-year low of $45.03 and a 1-year high of $58.45.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same quarter last year, the company earned $0.65 EPS. As a group, analysts anticipate that Enbridge Inc will post 2.11 EPS for the current year.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a dividend of $0.97 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.7%. Enbridge's dividend payout ratio (DPR) is currently 147.06%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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