Maryland State Retirement & Pension System Has $158.18 Million Holdings in Enbridge Inc $ENB

Maryland State Retirement & Pension System lifted its holdings in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,919,694 shares of the pipeline company’s stock after purchasing an additional 196,349 shares during the quarter. Enbridge accounts for approximately 3.2% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 3rd largest position. Maryland State Retirement & Pension System owned 0.13% of Enbridge worth $158,182,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Triumph Capital Management bought a new position in Enbridge during the third quarter valued at $26,000. Turning Point Benefit Group Inc. bought a new stake in shares of Enbridge in the 3rd quarter worth about $28,000. Inspire Investing LLC bought a new stake in shares of Enbridge in the 4th quarter worth about $29,000. Garner Asset Management Corp bought a new stake in shares of Enbridge in the 4th quarter worth about $30,000. Finally, Imprint Wealth LLC purchased a new stake in shares of Enbridge during the 3rd quarter valued at about $31,000. Institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ENB. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Monday, May 11th. Royal Bank Of Canada boosted their price objective on Enbridge from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Finally, Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a report on Sunday. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Price Performance

Enbridge stock opened at $55.92 on Wednesday. The firm has a 50-day moving average price of $55.49 and a 200-day moving average price of $52.81. The firm has a market capitalization of $122.14 billion, a PE ratio of 26.26 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.73 and a debt-to-equity ratio of 1.69. Enbridge Inc has a 12-month low of $44.53 and a 12-month high of $58.45.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a net margin of 9.83% and a return on equity of 11.21%. During the same period in the previous year, the company earned $1.03 EPS. As a group, equities research analysts forecast that Enbridge Inc will post 2.15 EPS for the current year.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 6.9%. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

Enbridge Company 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.