Cumberland Partners Ltd Has $575,000 Position in Enbridge Inc. (ENB)
Cumberland Partners Ltd decreased its position in shares of Enbridge Inc. (NYSE:ENB) by 16.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,680 shares of the company’s stock after selling 2,701 shares during the period. Cumberland Partners Ltd’s holdings in Enbridge were worth $575,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Capstone Asset Management Co. boosted its position in Enbridge by 4.2% in the first quarter. Capstone Asset Management Co. now owns 121,160 shares of the company’s stock valued at $4,714,000 after buying an additional 4,880 shares in the last quarter. Aperio Group LLC boosted its position in Enbridge by 121.7% in the first quarter. Aperio Group LLC now owns 253,778 shares of the company’s stock valued at $9,875,000 after buying an additional 139,329 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in Enbridge during the first quarter valued at approximately $786,000. Virginia Retirement System purchased a new position in Enbridge during the first quarter valued at approximately $6,872,000. Finally, IFP Advisors Inc boosted its position in Enbridge by 15.5% in the first quarter. IFP Advisors Inc now owns 6,695 shares of the company’s stock valued at $261,000 after buying an additional 899 shares in the last quarter. Institutional investors and hedge funds own 66.77% of the company’s stock.
Enbridge Inc. (NYSE:ENB) traded down 0.45% on Thursday, hitting $43.99. 2,840,032 shares of the stock were exchanged. Enbridge Inc. has a 12 month low of $27.43 and a 12 month high of $45.77. The company has a 50-day moving average of $42.07 and a 200 day moving average of $40.78. The firm has a market cap of $41.10 billion, a P/E ratio of 39.95 and a beta of 0.65.
Enbridge (NYSE:ENB) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.03. Enbridge had a net margin of 4.29% and a return on equity of 12.96%. During the same quarter in the prior year, the company earned $0.60 EPS. Equities research analysts expect that Enbridge Inc. will post $1.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.73%. Enbridge’s payout ratio is 166.33%.
Several research firms have commented on ENB. Scotiabank reissued an “outperform” rating and set a $61.00 target price on shares of Enbridge in a research report on Wednesday, August 3rd. National Bank Financial raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, September 7th. Goldman Sachs Group Inc. cut shares of Enbridge from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $44.00 to $42.00 in a research report on Wednesday, July 20th. Zacks Investment Research raised shares of Enbridge from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, August 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $64.00 target price on shares of Enbridge in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.50.
Enbridge Inc (Enbridge) is an energy transportation and distribution company. The Company operates through five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines, Processing and Energy Services; Sponsored Investments, and Corporate. The Company operates the crude oil and liquids transportation system in Canada and the United States.
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