Maryland State Retirement & Pension System Has $94.85 Million Stock Holdings in Enbridge Inc. (NYSE:ENB)

Maryland State Retirement & Pension System lifted its holdings in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,622,189 shares of the pipeline company’s stock after purchasing an additional 15,217 shares during the period. Enbridge accounts for approximately 2.0% of Maryland State Retirement & Pension System’s portfolio, making the stock its 4th biggest holding. Maryland State Retirement & Pension System owned 0.12% of Enbridge worth $94,845,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Harbor Investment Advisory LLC increased its holdings in shares of Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 280 shares during the period. North Star Investment Management Corp. raised its holdings in Enbridge by 24.6% in the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after acquiring an additional 300 shares in the last quarter. Capital Investment Counsel Inc lifted its position in shares of Enbridge by 5.2% in the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after acquiring an additional 326 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock worth $234,000 after purchasing an additional 341 shares in the last quarter. Finally, Marino Stram & Associates LLC increased its position in shares of Enbridge by 1.6% during the third quarter. Marino Stram & Associates LLC now owns 21,685 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 344 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ENB shares. Stifel Nicolaus initiated coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group began coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

NYSE ENB traded up $0.12 during trading hours on Tuesday, reaching $36.79. 2,636,301 shares of the company’s stock were exchanged, compared to its average volume of 5,777,463. The firm has a fifty day moving average of $35.37 and a 200-day moving average of $34.98. Enbridge Inc. has a one year low of $31.03 and a one year high of $40.30. The stock has a market cap of $78.21 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 3.43 and a beta of 0.83. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. On average, equities research analysts predict that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.36%. Enbridge’s payout ratio is currently 129.05%.

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.