Maryland State Retirement & Pension System Has $107.89 Million Position in Enbridge Inc. (NYSE:ENB)

Maryland State Retirement & Pension System raised its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,905,031 shares of the pipeline company’s stock after acquiring an additional 11,583 shares during the period. Enbridge makes up about 2.3% of Maryland State Retirement & Pension System’s holdings, making the stock its 3rd largest position. Maryland State Retirement & Pension System owned 0.14% of Enbridge worth $107,891,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Coppell Advisory Solutions Corp. bought a new stake in Enbridge in the 4th quarter worth about $25,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Enbridge in the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Enbridge during the 1st quarter worth $27,000. MBM Wealth Consultants LLC bought a new stake in Enbridge in the 4th quarter valued at about $39,000. Finally, Antonetti Capital Management LLC boosted its position in Enbridge by 58.2% during the first quarter. Antonetti Capital Management LLC now owns 1,087 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 400 shares during the period. 48.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. StockNews.com initiated coverage on shares of Enbridge in a research note on Thursday, August 17th. They set a “hold” rating on the stock. National Bank Financial initiated coverage on shares of Enbridge in a research report on Monday, September 11th. They set a “sector perform” rating for the company. CIBC raised their price target on Enbridge from $63.00 to $64.00 and gave the company an “outperformer” rating in a report on Monday, September 11th. BMO Capital Markets began coverage on shares of Enbridge in a report on Friday, September 8th. They issued a “market perform” rating on the stock. Finally, TD Securities cut their target price on shares of Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and an average target price of $58.57.

Enbridge Stock Performance

NYSE ENB opened at $35.09 on Friday. The firm has a market cap of $74.59 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.71 and a beta of 0.85. The company has a 50-day simple moving average of $35.65 and a two-hundred day simple moving average of $37.12. The company has a quick ratio of 0.55, a current ratio of 0.64 and a debt-to-equity ratio of 1.27. Enbridge Inc. has a 12-month low of $32.90 and a 12-month high of $42.12.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Enbridge had a return on equity of 10.20% and a net margin of 8.58%. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.49 billion. On average, equities analysts forecast that Enbridge Inc. will post 2.11 EPS for the current year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $0.67 dividend. The ex-dividend date was Monday, August 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.68 annualized dividend and a dividend yield of 7.64%. Enbridge’s dividend payout ratio (DPR) is presently 187.86%.

Enbridge 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.