Jamison Private Wealth Management Inc. Expands Holdings in Enbridge Inc.

Jamison Private Wealth Management Inc. significantly increased its stake in Enbridge Inc. (NYSE:ENB - Free Report) during the fourth quarter, according to a recent filing with the Securities and Exchange Commission. The firm raised its holdings by an impressive 282.3%, bringing its total ownership to 23,438 shares. This increase was made possible by acquiring an additional 17,307 shares in the pipeline company throughout the quarter. As of the latest reporting period, Jamison Private Wealth Management Inc.'s investment in Enbridge was valued at approximately $994,000.

Additionally, various other hedge funds and institutional investors have also engaged in buying and selling shares of Enbridge. For instance, William B. Walkup & Associates Inc. established a new position in the company in the second quarter, valued at around $28,000. Similarly, McIlrath & Eck LLC raised its stake in Enbridge by 74.9% during the third quarter, resulting in ownership of 689 shares worth $28,000 after acquiring 295 additional shares last quarter. Other entities like Albion Financial Group UT and Grove Bank & Trust also recently purchased shares, with Albion acquiring shares worth about $29,000 and Grove Bank increasing its holdings by 56.7%, now owning shares valued at $31,000. Overall, hedge funds and institutional investors collectively own 54.60% of Enbridge's stock.

Enbridge Stock Overview

On Friday, Enbridge's stock opened at $45.08. The company has seen its shares fluctuate significantly over the past year, with a low of $32.85 and a high of $45.78. The fifty-day moving average for Enbridge is $42.99, while its two-hundred day moving average stands at $40.86. The market capitalization is approximately $98.19 billion, with a price-to-earnings ratio of 20.87 and a beta value of 0.93.

Recent Earnings Announcement

Enbridge recently released its quarterly earnings report on November 1st, where it posted earnings per share (EPS) of $0.55, surpassing analysts' expectations of $0.40 by $0.15. The reported revenue for the quarter was $10.91 billion, well above the consensus estimate of $4.54 billion. The company achieved a net margin of 13.54% and return on equity of 9.94%. Compared to the same period last year, the EPS increased from $0.46. Analysts currently forecast an EPS of 1.97 for the current year.

Dividend Update

Enbridge has announced a quarterly dividend, set to be paid on March 1st. Shareholders on record as of February 15th will receive a dividend of $0.67 per share. This translates to an annualized dividend of $2.68, resulting in a dividend yield of 5.95%. Presently, Enbridge's dividend payout ratio stands at 121.76%.

Analyst Ratings and Price Target

Multiple research firms have published their analyses on Enbridge recently. Jefferies Financial Group downgraded the stock from a "buy" to a "hold" rating. Meanwhile, the Royal Bank of Canada maintained an "outperform" rating and adjusted its price target for Enbridge shares to $63.00, an increase from the previous target of $59.00. TD Securities began coverage with a "buy" rating, while Morgan Stanley set an "equal weight" rating. As of now, three analysts recommend holding the stock, while two suggest buying it.

Company Profile

Enbridge Inc. operates as an energy infrastructure company through several subsidiaries. The business is organized into five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment specifically handles the transportation of various crude oils and liquid hydrocarbons across Canada and the United States.

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