Enbridge Inc. (NYSE:ENB) Stake Boosted by Torray Investment Partners LLC

Torray Investment Partners LLC raised its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.7% in the second quarter, Holdings Channel.com reports. The fund owned 108,510 shares of the pipeline company’s stock after acquiring an additional 1,826 shares during the quarter. Torray Investment Partners LLC’s holdings in Enbridge were worth $3,862,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. bought a new position in shares of Enbridge in the first quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter valued at approximately $31,000. PFS Partners LLC raised its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after acquiring an additional 451 shares during the last quarter. Finally, Northwest Bank & Trust Co bought a new position in shares of Enbridge in the 4th quarter valued at about $34,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Trading Down 0.1 %

Shares of Enbridge stock traded down $0.06 during trading on Friday, hitting $40.39. 3,555,744 shares of the company were exchanged, 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 company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The firm has a market capitalization of $86.19 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 3.90 and a beta of 0.94. The firm’s fifty day moving average price is $37.81 and its 200 day moving average price is $36.37.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the business earned $0.51 EPS. As a group, sell-side analysts expect that Enbridge Inc. will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a 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%.

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.