192,161 Enbridge Inc $ENB Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,416,568 shares of the pipeline company’s stock after selling 192,161 shares during the period. Enbridge makes up approximately 1.7% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 6th biggest position. Maryland State Retirement & Pension System’s holdings in Enbridge were worth $112,306,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ENB. Deutsche Bank AG purchased a new stake in shares of Enbridge in the second quarter worth about $1,850,502,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Enbridge by 18.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,624,547 shares of the pipeline company’s stock valued at $1,117,353,000 after buying an additional 3,205,322 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Enbridge by 1.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 16,456,664 shares of the pipeline company’s stock valued at $760,553,000 after buying an additional 266,866 shares in the last quarter. Amundi grew its holdings in Enbridge by 8.5% during the 2nd quarter. Amundi now owns 11,948,497 shares of the pipeline company’s stock valued at $647,728,000 after buying an additional 936,435 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Enbridge by 2.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,079,469 shares of the pipeline company’s stock worth $599,709,000 after acquiring an additional 268,800 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Performance

NYSE:ENB opened at $47.91 on Thursday. The firm has a market capitalization of $106.79 billion, a PE ratio of 21.81, a PEG ratio of 5.69 and a beta of 0.59. The stock’s fifty day moving average is $47.93 and its 200 day moving average is $52.18. Enbridge Inc has a fifty-two week low of $45.03 and a fifty-two week high of $58.45. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.66 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 6th. The pipeline company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. Enbridge had a net margin of 7.37% and a return on equity of 11.56%. The company had revenue of $21.08 billion during the quarter, compared to analyst estimates of $9.62 billion. On average, sell-side analysts anticipate that Enbridge Inc will post 2.10 earnings per share for the current year.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a C$0.97 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.88 annualized dividend and a dividend yield of 8.1%. Enbridge’s dividend payout ratio is currently 134.80%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of Enbridge in a report on Monday, September 14th. TD upgraded Enbridge to a “buy” rating in a research report on Tuesday, September 15th. BMO Capital Markets raised shares of Enbridge from a “market perform” rating to an “outperform” rating and set a $79.50 target price for the company in a report on Monday, September 14th. Wolfe Research set a $50.00 price target on shares of Enbridge in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada boosted their price target on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.88.

Enbridge Company Profile

Enbridge Inc. is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses. Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.