Cumberland Partners Ltd Lowers stake in Enbridge Inc (USA) (ENB)

Enbridge Inc (USA) (ENB) : Cumberland Partners Ltd reduced its stake in Enbridge Inc (USA) by 16.49% during the most recent quarter end. The investment management company now holds a total of 13,680 shares of Enbridge Inc (USA) which is valued at $529,826 after selling 2,701 shares in Enbridge Inc (USA) , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Enbridge Inc (USA) makes up approximately 0.07% of Cumberland Partners Ltd’s portfolio.

Other Hedge Funds, Including , British Airways Pensions Investment Management Ltd boosted its stake in ENB in the latest quarter, The investment management firm added 37,400 additional shares and now holds a total of 235,390 shares of Enbridge Inc (USA) which is valued at $9,116,655. Enbridge Inc (USA) makes up approx 0.27% of British Airways Pensions Investment Management Ltd’s portfolio.Taylor Asset Management Inc reduced its stake in ENB by selling 519,100 shares or 82.29% in the most recent quarter. The Hedge Fund company now holds 111,700 shares of ENB which is valued at $4,326,141. Enbridge Inc (USA) makes up approx 1.20% of Taylor Asset Management Inc’s portfolio.Checchi Capital Advisers boosted its stake in ENB in the latest quarter, The investment management firm added 19 additional shares and now holds a total of 2,286 shares of Enbridge Inc (USA) which is valued at $91,829. Enbridge Inc (USA) makes up approx 0.02% of Checchi Capital Advisers’s portfolio.

Enbridge Inc (USA) opened for trading at $39.09 and hit $41.19 on the upside on Friday, eventually ending the session at $41.13, with a gain of 5.22% or 2.04 points. The heightened volatility saw the trading volume jump to 14,02,248 shares. Company has a market cap of $38,214 M.

On the company’s financial health, Enbridge Inc (USA) reported $0.50 EPS for the quarter, based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus estimate of $0.50.Analysts expectations of $ 8129.86.During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on Enbridge Inc (USA). Enbridge Inc (USA) was Downgraded by Goldman to ” Neutral” on Jul 20, 2016. Enbridge Inc (USA) was Downgraded by National Bank Financial to ” Sector Perform” on Jul 18, 2016.

Enbridge Inc. (Enbridge) is an energy transportation and distribution company. The Company operates in five segments: Liquids Pipelines; Gas Distribution; Gas Pipelines Processing and Energy Services; Sponsored Investments and Corporate. Liquids Pipelines segment owns and operates crude oil and other liquid hydrocarbons pipelines and terminals. Gas Distribution consists of the Company’s natural gas utility operations. Gas Pipelines Processing and Energy Services segment consists of investments in natural gas pipelines gathering and processing facilities and the Company’s energy services businesses along with renewable energy and transmission facilities. Sponsored Investments includes the Company’s 33.7% economic interest in Enbridge Energy Partners L.P. (EEP) and Enbridge’s interests in both the Eastern Access and Lakehead System Mainline expansion projects held through Enbridge Energy Limited Partnership (EELP). The Corporate segment includes an investment in Noverco Inc.

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