Torray Investment Partners LLC Sells 81,100 Shares of Enbridge Inc $ENB

Torray Investment Partners LLC lowered its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 85.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,292 shares of the pipeline company’s stock after selling 81,100 shares during the period. Torray Investment Partners LLC’s holdings in Enbridge were worth $602,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ENB. Dagco Inc. purchased a new position in Enbridge during the first quarter valued at $25,000. Whipplewood Advisors LLC lifted its position in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 308 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Enbridge during the first quarter valued at $28,000. Accent Capital Management LLC purchased a new position in Enbridge during the first quarter valued at $30,000. Finally, FNY Investment Advisers LLC purchased a new position in Enbridge during the second quarter valued at $36,000. Institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ENB shares. CIBC cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, October 9th. Zacks Research cut Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a research report on Wednesday, October 8th. Finally, Cibc World Mkts downgraded Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Enbridge has a consensus rating of “Hold” and an average target price of $60.50.

Enbridge Trading Down 0.7%

Shares of Enbridge stock opened at $46.65 on Monday. The firm has a market capitalization of $101.73 billion, a PE ratio of 22.98, a P/E/G ratio of 4.31 and a beta of 0.78. Enbridge Inc has a twelve month low of $39.73 and a twelve month high of $50.54. The firm’s 50-day moving average price is $48.38 and its 200 day moving average price is $46.72. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 1st. The pipeline company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, sell-side analysts predict that Enbridge Inc will post 2.14 EPS for the current fiscal year.

Enbridge 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.