Cumberland Partners Ltd Has $3.60 Million Position in Enbridge Inc. (NYSE:ENB)

Cumberland Partners Ltd boosted its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,124 shares of the pipeline company’s stock after purchasing an additional 9,730 shares during the quarter. Cumberland Partners Ltd’s holdings in Enbridge were worth $3,603,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in shares of Enbridge by 630.3% in the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares in the last quarter. Vanguard Group Inc. raised its holdings in Enbridge by 5.7% during the third quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after buying an additional 4,400,848 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Enbridge by 36.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,447,175 shares of the pipeline company’s stock valued at $348,110,000 after buying an additional 2,814,200 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Enbridge by 13.9% during the third quarter. Mackenzie Financial Corp now owns 22,523,066 shares of the pipeline company’s stock valued at $710,961,000 after buying an additional 2,756,079 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Enbridge by 11.3% during the third quarter. CIBC Asset Management Inc now owns 20,717,604 shares of the pipeline company’s stock worth $689,270,000 after acquiring an additional 2,101,021 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

ENB stock traded up $0.07 during midday trading on Tuesday, hitting $35.42. The company’s stock had a trading volume of 12,397,320 shares, compared to its average volume of 5,703,786. The stock has a market cap of $75.30 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 3.26 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The stock’s 50-day moving average price is $35.07 and its 200 day moving average price is $34.76. Enbridge Inc. has a 1 year low of $31.03 and a 1 year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%. On average, equities analysts forecast that Enbridge Inc. will post 2.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.20.

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.