Jamison Private Wealth Management Inc. Purchases 17,307 Shares of Enbridge Inc. (NYSE:ENB)

Jamison Private Wealth Management Inc. lifted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 282.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,438 shares of the pipeline company’s stock after acquiring an additional 17,307 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Enbridge were worth $994,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ENB. William B. Walkup & Associates Inc. purchased a new position in shares of Enbridge in the 2nd quarter worth about $28,000. McIlrath & Eck LLC boosted its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT bought a new position in shares of Enbridge during the 4th quarter valued at approximately $29,000. Grove Bank & Trust increased its stake in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC raised its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

NYSE:ENB opened at $45.08 on Friday. Enbridge Inc. has a 52-week low of $32.85 and a 52-week high of $45.78. The business’s fifty day moving average is $42.99 and its 200 day moving average is $40.86. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market cap of $98.19 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 4.15 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the firm posted $0.46 earnings per share. Research analysts predict that Enbridge Inc. will post 1.97 EPS for the current year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.95%. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent research reports. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.