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

Torray Investment Partners LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,053 shares of the pipeline company’s stock after acquiring an additional 1,062 shares during the quarter. Torray Investment Partners LLC’s holdings in Enbridge were worth $5,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Enbridge by 1,514.7% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company’s stock valued at $194,938,000 after purchasing an additional 4,502,115 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Enbridge by 27.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Enbridge by 55.2% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 4,143,265 shares of the pipeline company’s stock worth $168,258,000 after acquiring an additional 1,472,789 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Enbridge by 44.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,838,371 shares of the pipeline company’s stock worth $156,098,000 after purchasing an additional 1,183,821 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock opened at $42.68 on Tuesday. The firm has a 50 day simple moving average of $43.44 and a 200 day simple moving average of $42.04. Enbridge Inc. has a 52 week low of $32.85 and a 52 week high of $45.78. The stock has a market cap of $93.00 billion, a P/E ratio of 24.81, a P/E/G ratio of 3.92 and a beta of 0.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

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

Enbridge Cuts Dividend

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

Analysts Set New Price Targets

ENB has been the topic of several analyst reports. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada increased their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.00.

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.