Enbridge Inc $ENB Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,257,337 shares of the pipeline company’s stock after selling 166,278 shares during the period. Allianz Asset Management GmbH owned about 0.06% of Enbridge worth $56,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Enbridge by 1.7% in the first quarter. Vanguard Group Inc. now owns 93,187,025 shares of the pipeline company’s stock valued at $4,124,271,000 after buying an additional 1,569,879 shares in the last quarter. GQG Partners LLC raised its stake in Enbridge by 1.5% in the first quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company’s stock valued at $3,338,405,000 after buying an additional 1,148,580 shares in the last quarter. TD Asset Management Inc raised its stake in Enbridge by 1.6% in the second quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company’s stock valued at $1,804,913,000 after buying an additional 617,577 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Enbridge by 137.9% in the first quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company’s stock valued at $1,458,128,000 after buying an additional 19,074,827 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Enbridge by 10.5% in the first quarter. JPMorgan Chase & Co. now owns 17,643,681 shares of the pipeline company’s stock valued at $781,792,000 after buying an additional 1,680,116 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Argus raised their price target on Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group upgraded Enbridge from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Finally, CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 9th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price of $60.50.

Enbridge Stock Performance

Shares of ENB stock opened at $47.07 on Friday. The stock has a market capitalization of $102.64 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78. Enbridge Inc has a 52-week low of $39.73 and a 52-week high of $50.54. The stock’s 50-day moving average price is $48.47 and its 200 day moving average price is $46.36. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%.During the same quarter in the previous year, the firm posted $0.58 EPS. As a group, equities research analysts forecast that Enbridge Inc will post 2.14 EPS for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were given a $0.6839 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.68. The ex-dividend date was Friday, August 15th. This represents a $2.74 annualized dividend and a yield of 5.8%. Enbridge’s payout ratio is presently 134.98%.

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.