Allianz Asset Management GmbH Sells 98,094 Shares of Enbridge Inc. (NYSE:ENB)

Allianz Asset Management GmbH cut its stake in shares of Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) by 45.6% during the 4th quarter, HoldingsChannel reports. The firm owned 116,896 shares of the pipeline company’s stock after selling 98,094 shares during the period. Allianz Asset Management GmbH’s holdings in Enbridge were worth $4,246,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ENB. Harbor Investment Advisory LLC boosted its stake in shares of Enbridge by 5.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 280 shares in the last quarter. North Star Investment Management Corp. boosted its position in Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after buying an additional 300 shares during the period. Capital Investment Counsel Inc grew its holdings in Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after acquiring an additional 326 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in Enbridge by 1.9% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 17,933 shares of the pipeline company’s stock valued at $646,000 after acquiring an additional 340 shares during the period. Finally, Azimuth Capital Investment Management LLC raised its stake in shares of Enbridge by 2.3% during the third quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock valued at $518,000 after acquiring an additional 350 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Performance

Shares of ENB opened at $36.19 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The firm has a market cap of $76.94 billion, a PE ratio of 18.37, a PEG ratio of 3.42 and a beta of 0.90. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $38.37. The stock’s fifty day moving average price is $35.89 and its two-hundred day moving average price is $35.55.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last released its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. On average, equities research analysts forecast that Enbridge Inc. will post 2.11 EPS for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th were paid a $0.677 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.48%. Enbridge’s dividend payout ratio is currently 136.04%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group started coverage on Enbridge in a report on Tuesday, February 27th. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average target price of $55.20.

Read Our Latest Stock Analysis on ENB

Enbridge Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Enbridge (NYSE:ENB)

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