Jamison Private Wealth Management Increases Stake in Enbridge Inc.

Jamison Private Wealth Management Inc. has significantly increased its investment in Enbridge Inc. (NYSE:ENB - Free Report) during the fourth quarter of the year. According to the latest report submitted to the Securities and Exchange Commission, the company raised its holdings by an impressive 282.3%. This boost means that Jamison now owns a total of 23,438 shares of Enbridge, having acquired an additional 17,307 shares during this period. By the end of the quarter, Jamison's investment in Enbridge was valued at approximately $994,000.

Institutional Buying Activity

In addition to Jamison's investment, it appears that other institutional investors are also showing interest in Enbridge. For example, William B. Walkup & Associates Inc. established a new position in the stock during the second quarter with an investment of about $28,000. Similarly, McIlrath & Eck LLC increased its stake in Enbridge by 74.9% during the third quarter, bringing its total ownership to 689 shares valued at $28,000 after acquiring 295 shares in the last quarter. Furthermore, Albion Financial Group UT made a new investment valued at around $29,000 in the fourth quarter.

Stock Performance Overview

As of Friday, Enbridge's stock opened at $45.08. Over the past year, its price has fluctuated, reaching a 52-week low of $32.85 and a high of $45.78. The company's fifty-day moving average stands at $42.99, with a 200-day moving average of $40.86. Enbridge has a market capitalization of $98.19 billion, a price-to-earnings (P/E) ratio of 20.87, and a balanced beta of 0.93.

Latest Financial Results

Enbridge announced its quarterly earnings results on November 1st. The company reported earnings per share (EPS) of $0.55, exceeding analysts' expectations of $0.40 by a solid margin. In terms of revenue, Enbridge generated $10.91 billion, significantly higher than the anticipated $4.54 billion. The company also reported a 13.54% net margin and a 9.94% return on equity. Looking ahead, analysts forecast that Enbridge will achieve an EPS of 1.97 for the current fiscal year.

Dividend Announcement

Recently, Enbridge declared a quarterly dividend of $0.67 per share, which is set to be distributed on March 1st to stockholders recorded as of February 15th. The ex-dividend date is February 14th. This translates to an annualized dividend of $2.68, giving a yield of 5.95%. However, it is noteworthy that the company's dividend payout ratio currently stands at 121.76%, indicating that it is paying out more than it earns in profits.

Analyst Ratings and Future Outlook

Enbridge has undergone various ratings from financial analysts recently. Jefferies Financial Group downgraded the stock from a "buy" to a "hold" rating in late September. Meanwhile, the Royal Bank of Canada maintained an "outperform" rating with an adjusted price target of $63.00, which was previously $59.00. TD Securities initiated coverage with a "buy" rating in January, while Wells Fargo upgraded the stock from "underweight" to "equal weight" in early November. Overall, three analysts recommend a hold on the stock while two suggest a buy. The average analyst rating is currently a "Hold" with a price target estimate of $63.00.

Enbridge Company Overview

Enbridge Inc. operates as an energy infrastructure company with various subsidiaries. The organization is segmented into five divisions: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. Its Liquids Pipelines sector is responsible for transporting crude oil and other liquid hydrocarbons across the United States and Canada.

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