Enbridge Inc. (NYSE:ENB) Shares Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd increased its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 38,464 shares of the pipeline company’s stock after acquiring an additional 3,489 shares during the period. Cumberland Partners Ltd’s holdings in Enbridge were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Private Advisor Group LLC grew its position in shares of Enbridge by 5.4% during the fourth quarter. Private Advisor Group LLC now owns 129,109 shares of the pipeline company’s stock worth $5,478,000 after acquiring an additional 6,620 shares during the last quarter. Alberta Investment Management Corp grew its position in Enbridge by 2.9% in the 4th quarter. Alberta Investment Management Corp now owns 3,692,089 shares of the pipeline company’s stock worth $156,622,000 after purchasing an additional 103,008 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Enbridge by 9.0% in the fourth quarter. Global Retirement Partners LLC now owns 43,974 shares of the pipeline company’s stock valued at $1,866,000 after purchasing an additional 3,622 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Enbridge during the fourth quarter valued at approximately $368,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Enbridge during the fourth quarter worth approximately $104,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Stock Down 1.0 %

Shares of ENB stock opened at $42.31 on Thursday. Enbridge Inc. has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The business’s fifty day moving average is $43.35 and its 200-day moving average is $41.84. The stock has a market cap of $92.20 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.15% and a net margin of 10.04%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company earned $0.64 earnings per share. Equities analysts expect that Enbridge Inc. will post 2.15 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.33%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio is presently 155.81%.

Analysts Set New Price Targets

Several analysts recently commented on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada raised their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.00.

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.