Jamison Private Wealth Management Increases Stake in Enbridge Inc.

Jamison Private Wealth Management Inc. has significantly increased its holdings in Enbridge Inc. (NYSE:ENB) during the fourth quarter, according to their latest statement with the Securities and Exchange Commission. The firm raised its share ownership by an impressive 282.3%, bringing its total to 23,438 shares. This increase included the purchase of an additional 17,307 shares throughout the quarter. At the close of that period, Jamison's investment in Enbridge was valued at approximately $994,000.

In addition to Jamison Private Wealth Management Inc., other institutional investors have also engaged in buying and selling shares of Enbridge. For instance, William B. Walkup & Associates Inc. entered the scene by acquiring a new position in the second quarter, amounting to around $28,000. Meanwhile, McIlrath & Eck LLC expanded its stake by 74.9% in the third quarter, managing to acquire 689 shares valued at about $28,000 after purchasing an additional 295 shares. Albion Financial Group UT also took a new position in Enbridge during the fourth quarter, valued at roughly $29,000.

Furthermore, Grove Bank & Trust augmented its holdings by 56.7% in the third quarter, now owning 771 shares worth $31,000 after purchasing an additional 279 shares. Similarly, MFA Wealth Advisors LLC raised its position by 55.6% during the same period, owning 784 shares valued at $32,000 after acquiring an extra 280 shares. Altogether, institutional investors currently control 54.60% of Enbridge's stock.

Enbridge Stock Overview

Enbridge Inc.'s stock opened at $45.08 on Friday. The company has experienced a 52-week low of $32.85 and a high of $45.78. The fifty-day moving average is $42.99, while the 200-day moving average sits at $40.86. Enbridge's market capitalization is around $98.19 billion, and it holds a price-to-earnings ratio of 20.87, a PEG ratio of 4.15, and a beta value of 0.93.

Earnings Report Highlights

Enbridge recently announced its quarterly earnings results on November 1st. The pipeline company reported earnings per share (EPS) of $0.55, exceeding analysts' predictions of $0.40 by $0.15. The firm generated revenue of approximately $10.91 billion for the quarter, significantly surpassing the consensus estimate of $4.54 billion. Enbridge's net margin stands at 13.54%, with a return on equity of 9.94%. In the same period last year, the company had posted an EPS of $0.46. Research analysts anticipate that Enbridge Inc. will report an EPS of 1.97 for the current fiscal year.

Dividend Announcement

In a recent update, Enbridge declared a quarterly dividend to be paid on March 1st. Shareholders on record as of February 15th will receive a dividend of $0.67 per share, making for an annualized dividend of $2.68 and a dividend yield of 5.95%. The company currently reports a dividend payout ratio of 121.76%.

Analyst Ratings and Future Growth

Recently, Enbridge has been discussed in various research reports. Jefferies Financial Group lowered Enbridge's rating from "buy" to "hold" in a report on September 30th. In contrast, Royal Bank of Canada reaffirmed their "outperform" rating on Enbridge, raising the price target from $59.00 to $63.00 in a report published on December 4th. Additionally, TD Securities started coverage with a "buy" recommendation, while Morgan Stanley rated the stock as "equal weight". Wells Fargo & Company also upgraded their rating from "underweight" to "equal weight". Currently, three research analysts have given Enbridge a hold rating, while two have a buy rating, resulting in an average rating of "Hold" with a price target averaging $63.00.

About Enbridge Inc.

Enbridge Inc. operates as a leading energy infrastructure company and conducts its business through five main segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment is responsible for transporting various grades of crude oil and other liquid hydrocarbons in both Canada and the U.S.

Jamison, Enbridge, Investment