In the world of finance, there are few things as perplexing and bust-inducing as investment strategies. The seasoned investor knows that it takes a meticulous approach to evaluate the market and make informed decisions that will pay off over time. This is why companies like Soltis Investment Advisors LLC have gained such a reputation for being able to boost their holdings in shares, even in volatile markets.
On May 12, 2023, Soltis Investment Advisors LLC announced that they had boosted their holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 23.0% in the fourth quarter of the previous year. The company had purchased an additional 22,759 shares during this time, meaning their total holdings rose to 121,764 shares at the end of the quarter. These holdings were valued at $4,761,000.
Enbridge itself is a pipeline company that operates in Canada and the United States. It has several segments including Liquid Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation, and Energy Services. Its Liquid Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines.
However, Enbridge did not meet analysts’ expectations when it reported its quarterly earnings data on February 10th earlier that year. It missed consensus estimates for earnings per share (EPS) by $0.10 with results totalling $0.46 EPS for the quarter instead of $0.56. Despite this setback though, sell-side analysts remain confident in Enbridge’s ability to perform well financially going forward with an estimated EPS of 2.23 for its current fiscal year.
Navigating investments can be daunting but those who are successful know that investing requires careful analysis oriented towards long-term planning rather than knee-jerk reactions to sudden financial fluctuations like those seen so often lately in world markets which are as unpredictable as the weather. The example of Soltis Investment Advisors LLC boosting its holdings in shares of Enbridge serve as an example of this kind of steady, meticulous approach to investing which will set one up for success in the long run.
Institutional Investors Increase Stake in Enbridge Inc. as Company Announces Dividend Increase and Mixed Analyst Reports
Enbridge Inc. saw a number of institutional investors recently add to or reduce their holdings in the company. The hedge funds McClarren Financial Advisors, WFA of San Diego LLC, Richard W. Paul & Associates LLC, Archer Investment Corp and Hollencrest Capital Management all reported new stake purchases worth between $29,000 and $35,000 each in Q4 2022. Institutional investors now own 49.25% of the company’s stock.
Shares of Enbridge were down $0.21 during trading on Thursday, reaching $39.50 with a volume of over three million shares exchanged compared to its average volume of just over three million shares. This follows news that the company has a market capitalization of $79.98 billion and a price-to-earnings ratio of 44.62 with a P/E/G ratio of 2.97 and a beta of 0.83 as well as a twelve-month low of $35.02 and high point at $47.67.
Enbridge engages in gas and oil provision using various segments including liquid pipelines, gas distribution and storage, gas transmission and midstream activities, renewable power generation as well as energy services in Canada and the US.
The company also announced an increase in its quarterly dividend payout from $0.65 per share to $0.655 per share representing a boost for investors ahead of payments due out on June 1st with records dating back to May 15th when it turns ex-dividend on Friday May 12th.
Several research reports have been carried out by analysts about Enbridge recently too; StockNews.com noted that they had begun coverage on Enbridge stating that they gave “hold” rating for the firm while National Bank Financial raised their target price from C$54 to C$56 at end-January this year leading up to Credit Suisse Group subsequently upgrading Enbridge from an “underperform” rating to a neutral on March 29th. Lastly, BMO Capital Markets then downgraded Enbridge from an outperform rating to a market perform rating after recording non-ideal results in Q1 this year. To date, five research analytics have reported holding onto the stock with just two buying shares resulting in a consensus rating of Hold and an average target price of $57.50 according to data collated for Bloomberg.
