Enbridge Inc. (NYSE:ENB) Shares Purchased by Torray Investment Partners LLC

Torray Investment Partners LLC raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,053 shares of the pipeline company’s stock after buying an additional 1,062 shares during the period. Torray Investment Partners LLC’s holdings in Enbridge were worth $5,306,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Exencial Wealth Advisors LLC boosted its holdings in Enbridge by 3.3% in the fourth quarter. Exencial Wealth Advisors LLC now owns 51,055 shares of the pipeline company’s stock valued at $2,166,000 after purchasing an additional 1,636 shares during the last quarter. Patten Group Inc. boosted its stake in Enbridge by 1.8% during the 4th quarter. Patten Group Inc. now owns 27,190 shares of the pipeline company’s stock valued at $1,154,000 after acquiring an additional 483 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Enbridge by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,086,437 shares of the pipeline company’s stock worth $258,200,000 after purchasing an additional 241,205 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Enbridge by 33.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 92,526 shares of the pipeline company’s stock worth $3,926,000 after acquiring an additional 23,079 shares in the last quarter. Finally, Schechter Investment Advisors LLC increased its holdings in shares of Enbridge by 18.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 9,966 shares of the pipeline company’s stock valued at $423,000 after acquiring an additional 1,570 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Hold” and an average price target of $67.00.

Enbridge Trading Down 0.1 %

Shares of NYSE:ENB opened at $42.68 on Tuesday. 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 price is $43.44 and its 200 day moving average price is $42.04. The company has a market cap of $93.00 billion, a PE ratio of 24.81, a P/E/G ratio of 3.92 and a beta of 0.94. Enbridge Inc. has a fifty-two week low of $32.85 and a fifty-two week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same quarter in the previous year, the firm posted $0.64 EPS. Sell-side analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.28%. The ex-dividend date was Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 155.81%.

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.