Sonora Investment Management Group LLC Buys 1,234 Shares of Enbridge Inc. (NYSE:ENB)

Sonora Investment Management Group LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,324 shares of the pipeline company’s stock after acquiring an additional 1,234 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Enbridge were worth $735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ENB. Boomfish Wealth Group LLC lifted its stake in shares of Enbridge by 0.9% during the 4th quarter. Boomfish Wealth Group LLC now owns 37,703 shares of the pipeline company’s stock worth $1,600,000 after buying an additional 318 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Enbridge by 82.2% during the fourth quarter. Mediolanum International Funds Ltd now owns 152,794 shares of the pipeline company’s stock worth $6,408,000 after acquiring an additional 68,954 shares during the period. Crews Bank & Trust bought a new position in shares of Enbridge during the fourth quarter worth approximately $121,000. Synergy Asset Management LLC acquired a new position in Enbridge in the 4th quarter valued at $51,000. Finally, Strategic Blueprint LLC increased its position in Enbridge by 7.7% during the fourth quarter. Strategic Blueprint LLC now owns 15,724 shares of the pipeline company’s stock worth $667,000 after acquiring an additional 1,128 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE ENB opened at $44.45 on Friday. Enbridge Inc. has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a market cap of $96.82 billion, a P/E ratio of 20.58, a PEG ratio of 4.11 and a beta of 0.93. The company has a fifty day simple moving average of $43.09 and a 200 day simple moving average of $41.08. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 EPS. Sell-side analysts predict that Enbridge Inc. will post 1.97 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.03%. Enbridge’s payout ratio is 121.76%.

Wall Street Analyst Weigh In

ENB has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.00.

About Enbridge

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.