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

Cumberland Partners Ltd increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,464 shares of the pipeline company’s stock after purchasing an additional 3,489 shares during the quarter. Cumberland Partners Ltd’s holdings in Enbridge were worth $1,631,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. McIlrath & Eck LLC raised its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in Enbridge in the 4th quarter valued at $29,000. MFA Wealth Advisors LLC raised its position in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the period. Fortitude Family Office LLC acquired a new position in shares of Enbridge during the third quarter worth about $35,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Enbridge in the third quarter worth about $37,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock opened at $42.31 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The stock’s 50 day moving average is $43.35 and its two-hundred day moving average is $41.84. The company has a market capitalization of $92.20 billion, a PE ratio of 24.60, a P/E/G ratio of 4.02 and a beta of 0.94. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.15% and a net margin of 10.04%. During the same period in the previous year, the company earned $0.64 earnings per share. Analysts predict 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. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.33%. Enbridge’s dividend payout ratio (DPR) is 155.81%.

Analyst Ratings Changes

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

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.