Enbridge Inc $ENB Stake Raised by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,872,841 shares of the pipeline company’s stock after acquiring an additional 12,669 shares during the quarter. Enbridge accounts for 3.0% of Maryland State Retirement & Pension System’s portfolio, making the stock its 4th largest position. Maryland State Retirement & Pension System’s holdings in Enbridge were worth $144,891,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC acquired a new position in Enbridge in the 4th quarter valued at about $261,000. AQR Capital Management LLC grew its holdings in shares of Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after buying an additional 11,599 shares in the last quarter. Focus Financial Network Inc. grew its holdings in shares of Enbridge by 12.6% during the second quarter. Focus Financial Network Inc. now owns 19,623 shares of the pipeline company’s stock worth $889,000 after buying an additional 2,201 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Enbridge by 11.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 486,910 shares of the pipeline company’s stock valued at $21,787,000 after buying an additional 48,353 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Enbridge during the second quarter valued at approximately $3,736,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on ENB shares. Royal Bank Of Canada lifted their target price on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, November 10th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Wall Street Zen downgraded Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Scotiabank upgraded shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Enbridge Stock Up 1.6%

ENB opened at $47.57 on Friday. Enbridge Inc has a 1 year low of $39.73 and a 1 year high of $50.54. The firm has a 50 day moving average price of $47.46 and a 200 day moving average price of $47.34. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.68 and a current ratio of 0.80. The company has a market cap of $103.79 billion, a PE ratio of 26.14 and a beta of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a return on equity of 10.51% and a net margin of 9.20%.The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Sell-side analysts expect that Enbridge Inc will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be given a dividend of $0.97 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 8.2%. Enbridge’s dividend payout ratio is presently 147.80%.

Enbridge Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.