Maryland State Retirement & Pension System Increases Holdings in Enbridge Inc. (NYSE:ENB)

Maryland State Retirement & Pension System lifted its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,867,789 shares of the pipeline company’s stock after acquiring an additional 35,173 shares during the quarter. Enbridge makes up about 2.6% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 4th largest position. Maryland State Retirement & Pension System owned approximately 0.13% of Enbridge worth $121,663,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Natixis Advisors LLC grew its position in shares of Enbridge by 39.6% during the 3rd quarter. Natixis Advisors LLC now owns 193,042 shares of the pipeline company’s stock worth $7,839,000 after buying an additional 54,737 shares during the period. Thrivent Financial for Lutherans boosted its stake in Enbridge by 23.4% in the third quarter. Thrivent Financial for Lutherans now owns 46,685 shares of the pipeline company’s stock valued at $1,895,000 after acquiring an additional 8,848 shares during the last quarter. TrinityPoint Wealth LLC grew its holdings in Enbridge by 28.0% during the 3rd quarter. TrinityPoint Wealth LLC now owns 14,188 shares of the pipeline company’s stock worth $576,000 after acquiring an additional 3,107 shares during the period. Verity & Verity LLC lifted its stake in shares of Enbridge by 3.0% in the 3rd quarter. Verity & Verity LLC now owns 496,063 shares of the pipeline company’s stock valued at $20,145,000 after purchasing an additional 14,498 shares during the period. Finally, Prospera Financial Services Inc lifted its stake in shares of Enbridge by 5.5% in the 3rd quarter. Prospera Financial Services Inc now owns 32,513 shares of the pipeline company’s stock valued at $1,321,000 after purchasing an additional 1,703 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Stock Down 0.2 %

Shares of ENB stock opened at $43.41 on Wednesday. The firm has a fifty day moving average of $43.45 and a 200-day moving average of $42.29. Enbridge Inc. has a 12-month low of $32.86 and a 12-month high of $45.78. The company has a market capitalization of $94.59 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 3.92 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the prior year, the company posted $0.64 earnings per share. As a group, equities research analysts predict that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ENB has been the subject of a number of recent analyst reports. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada boosted their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.00.

About Enbridge

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.