Sonora Investment Management Group LLC Increases Stake in Enbridge Inc. (NYSE:ENB)

Sonora Investment Management Group LLC grew its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,324 shares of the pipeline company’s stock after purchasing an additional 1,234 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Enbridge were worth $735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Enbridge by 4.9% during the second quarter. Thrivent Financial for Lutherans now owns 37,837 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 1,766 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Enbridge by 248.0% in the second quarter. Squarepoint Ops LLC now owns 53,573 shares of the pipeline company’s stock worth $1,907,000 after acquiring an additional 89,773 shares during the period. AQR Capital Management LLC bought a new position in Enbridge during the second quarter valued at approximately $303,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Enbridge by 2.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 112,302 shares of the pipeline company’s stock worth $3,997,000 after buying an additional 2,415 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of Enbridge by 118.5% during the 2nd quarter. EP Wealth Advisors LLC now owns 28,051 shares of the pipeline company’s stock valued at $998,000 after purchasing an additional 15,214 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ENB has been the topic of several analyst reports. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. 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. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

ENB stock opened at $44.45 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $96.82 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 4.11 and a beta of 0.93. The company’s fifty day moving average price is $43.09 and its 200-day moving average price is $41.08. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that Enbridge Inc. will post 1.97 EPS for the current fiscal year.

Enbridge Cuts Dividend

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

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.