Torray Investment Partners LLC Acquires 6,464 Shares of Enbridge Inc. (NYSE:ENB)

by · The Cerbat Gem

Torray Investment Partners LLC lifted its holdings in shares of Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,775 shares of the pipeline company’s stock after buying an additional 6,464 shares during the quarter. Torray Investment Partners LLC’s holdings in Enbridge were worth $2,482,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quilter Plc purchased a new stake in shares of Enbridge during the 1st quarter valued at approximately $293,879,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Enbridge during the 4th quarter valued at approximately $25,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Enbridge during the 4th quarter valued at approximately $25,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Enbridge during the 2nd quarter valued at approximately $26,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Enbridge during the 1st quarter valued at approximately $27,000. 48.29% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Price Performance

Shares of Enbridge stock traded down $0.56 on Friday, hitting $35.30. 5,092,229 shares of the company traded hands, compared to its average volume of 5,006,474. The firm’s 50-day simple moving average is $35.76 and its 200 day simple moving average is $34.75. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. The company has a market cap of $75.03 billion, a P/E ratio of 31.81, a P/E/G ratio of 3.34 and a beta of 0.85. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.98.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last posted its quarterly earnings data on Friday, November 3rd. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. Enbridge had a net margin of 7.26% and a return on equity of 10.02%. The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.88 billion. Analysts expect that Enbridge Inc. will post 2.1 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be issued a dividend of $0.659 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.64 annualized dividend and a dividend yield of 7.47%. This is a positive change from Enbridge’s previous quarterly dividend of $0.64. Enbridge’s dividend payout ratio (DPR) is currently 234.23%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ENB. Royal Bank of Canada lowered their target price on shares of Enbridge from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Wells Fargo & Company cut shares of Enbridge from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Wolfe Research cut shares of Enbridge from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, October 17th. Stifel Nicolaus began coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Finally, Barclays lowered their target price on shares of Enbridge from $54.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $55.20.

Read Our Latest Report on ENB

About Enbridge

(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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