Sonora Investment Management Group LLC Sells 1,025 Shares of Enbridge Inc. (NYSE:ENB)

Sonora Investment Management Group LLC cut its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,299 shares of the pipeline company’s stock after selling 1,025 shares during the period. Sonora Investment Management Group LLC’s holdings in Enbridge were worth $722,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ENB. Vanguard Group Inc. lifted its position in shares of Enbridge by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after purchasing an additional 3,611,421 shares in the last quarter. GQG Partners LLC lifted its position in shares of Enbridge by 2.1% during the 4th quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after buying an additional 1,495,742 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Enbridge by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after buying an additional 1,040,799 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Enbridge by 13.9% in the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock worth $1,541,745,000 after buying an additional 4,426,684 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Enbridge in the fourth quarter valued at approximately $909,415,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENB has been the topic of several research analyst reports. Citigroup assumed coverage on Enbridge in a research report on Friday, April 4th. They issued a “buy” rating on the stock. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a report on Monday, May 12th. National Bankshares reaffirmed a “sector perform” rating on shares of Enbridge in a research report on Monday, May 12th. Royal Bank of Canada reissued an “outperform” rating and set a $67.00 target price on shares of Enbridge in a research report on Monday, May 12th. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.00.

Enbridge Stock Performance

NYSE ENB opened at $45.81 on Tuesday. The firm has a market cap of $99.86 billion, a P/E ratio of 26.63, a price-to-earnings-growth ratio of 3.92 and a beta of 0.81. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The company’s 50 day moving average is $45.18 and its 200-day moving average is $43.90. Enbridge Inc. has a 12-month low of $34.60 and a 12-month high of $47.44.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $10.20 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. Sell-side analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were paid a dividend of $0.679 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 annualized dividend and a yield of 5.93%. Enbridge’s dividend payout ratio (DPR) is currently 139.69%.

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.