Cumberland Partners Ltd Buys 9,730 Shares of Enbridge Inc. (NYSE:ENB)

Cumberland Partners Ltd increased its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,124 shares of the pipeline company’s stock after acquiring an additional 9,730 shares during the quarter. Cumberland Partners Ltd’s holdings in Enbridge were worth $3,603,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its position in shares of Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 280 shares during the period. North Star Investment Management Corp. lifted its position in shares of Enbridge by 24.6% in the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 300 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Enbridge by 5.1% in the third quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after acquiring an additional 341 shares during the period. Marino Stram & Associates LLC grew its holdings in Enbridge by 1.6% during the 3rd quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after buying an additional 344 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC raised its position in shares of Enbridge by 2.3% during the third quarter. Azimuth Capital Investment Management LLC now owns 15,537 shares of the pipeline company’s stock valued at $518,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

ENB stock traded up $0.07 during trading on Tuesday, hitting $35.42. 12,397,320 shares of the company’s stock traded hands, compared to its average volume of 5,703,786. Enbridge Inc. has a 52 week low of $31.03 and a 52 week high of $40.30. The stock has a market capitalization of $75.30 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 3.26 and a beta of 0.84. The business has a fifty day simple moving average of $35.07 and a 200 day simple moving average of $34.76. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly 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). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion. As a group, research analysts expect that Enbridge Inc. will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ENB shares. Jefferies Financial Group started coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus began coverage on Enbridge in a research report on Thursday, January 18th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average target price of $55.20.

About Enbridge

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.