Jamison Private Wealth Management Inc. Buys New Holdings in Enbridge Inc. (NYSE:ENB)

Jamison Private Wealth Management Inc. purchased a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,000 shares of the pipeline company’s stock, valued at approximately $36,000.

Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its stake in Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after purchasing an additional 15,650 shares during the period. S.E.E.D. Planning Group LLC raised its holdings in Enbridge by 81.1% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after acquiring an additional 102,850 shares in the last quarter. Clarius Group LLC lifted its position in shares of Enbridge by 25.2% during the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after acquiring an additional 1,617 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in shares of Enbridge during the 1st quarter worth $1,133,000. Finally, Savant Capital LLC increased its position in shares of Enbridge by 23.1% in the fourth quarter. Savant Capital LLC now owns 21,547 shares of the pipeline company’s stock worth $776,000 after purchasing an additional 4,049 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB traded down $0.10 on Friday, hitting $38.63. 705,939 shares of the stock were exchanged, compared to its average volume of 5,459,234. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge Inc. has a 12 month low of $31.03 and a 12 month high of $38.83. The firm has a market capitalization of $82.43 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 3.55 and a beta of 0.92. The business has a 50-day moving average of $36.10 and a two-hundred day moving average of $35.71.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the company posted $0.51 EPS. Sell-side analysts forecast that Enbridge Inc. will post 2.12 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Thursday, August 15th will be given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

About Enbridge

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.