Cumberland Partners Ltd Has $1.29 Million Stake in Enbridge Inc $ENB

Cumberland Partners Ltd lifted its position in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 66.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,900 shares of the pipeline company’s stock after buying an additional 9,558 shares during the quarter. Cumberland Partners Ltd’s holdings in Enbridge were worth $1,292,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENB. Healthcare of Ontario Pension Plan Trust Fund raised its position in Enbridge by 787.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,196,000 shares of the pipeline company’s stock valued at $173,189,000 after acquiring an additional 2,836,000 shares in the last quarter. Bollard Group LLC raised its holdings in shares of Enbridge by 7.6% during the 1st quarter. Bollard Group LLC now owns 214,621 shares of the pipeline company’s stock valued at $11,620,000 after purchasing an additional 15,173 shares in the last quarter. Modern Wealth Management LLC raised its holdings in shares of Enbridge by 6.6% during the 1st quarter. Modern Wealth Management LLC now owns 18,851 shares of the pipeline company’s stock valued at $1,011,000 after purchasing an additional 1,169 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Enbridge by 39.6% in the 1st quarter. Sei Investments Co. now owns 210,994 shares of the pipeline company’s stock valued at $11,423,000 after purchasing an additional 59,852 shares during the last quarter. Finally, Davis R M Inc. boosted its holdings in Enbridge by 33.6% in the first quarter. Davis R M Inc. now owns 5,951 shares of the pipeline company’s stock worth $322,000 after purchasing an additional 1,495 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ENB shares. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. TD Securities reissued a “hold” rating on shares of Enbridge in a report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday. Finally, Royal Bank Of Canada boosted their target price on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Stock Performance

NYSE:ENB opened at $56.84 on Friday. The firm has a market capitalization of $124.13 billion, a PE ratio of 26.68 and a beta of 0.58. Enbridge Inc has a 1 year low of $44.58 and a 1 year high of $58.45. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. The firm’s fifty day simple moving average is $55.73 and its 200 day simple moving average is $53.24.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same quarter in the previous year, the business earned $1.03 EPS. On average, sell-side analysts anticipate that Enbridge Inc will post 2.13 EPS for the current year.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date was Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 6.8%. Enbridge’s payout ratio is presently 133.80%.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.