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

Torray Investment Partners LLC increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,510 shares of the pipeline company’s stock after purchasing an additional 1,826 shares during the quarter. Torray Investment Partners LLC’s holdings in Enbridge were worth $3,862,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ENB. Canoe Financial LP increased its stake in shares of Enbridge by 80,631.1% during the fourth quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the period. Norges Bank purchased a new position in shares of Enbridge in the 4th quarter valued at about $714,662,000. TD Asset Management Inc boosted its position in Enbridge by 24.9% during the fourth quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after purchasing an additional 7,536,678 shares in the last quarter. M&G Plc purchased a new stake in shares of Enbridge in the first quarter valued at about $152,843,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Enbridge by 66.9% in the first quarter. Canada Pension Plan Investment Board now owns 9,044,864 shares of the pipeline company’s stock worth $327,172,000 after acquiring an additional 3,624,089 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.1 %

Shares of ENB traded down $0.06 on Friday, hitting $40.39. 3,555,744 shares of the stock traded hands, compared to its average volume of 5,347,496. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.81. The stock’s 50 day moving average is $37.81 and its two-hundred day moving average is $36.37. The firm has a market capitalization of $86.19 billion, a P/E ratio of 20.50, a P/E/G ratio of 3.90 and a beta of 0.94. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. As a group, sell-side analysts predict that Enbridge Inc. will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

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.