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

Maryland State Retirement & Pension System trimmed its stake in Enbridge Inc (NYSE:ENB) (TSE:ENB) by 7.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,416,568 shares of the pipeline company’s stock after selling 192,161 shares during the period. Enbridge accounts for approximately 1.7% of Maryland State Retirement & Pension System’s holdings, making the stock its 6th largest position. Maryland State Retirement & Pension System owned about 0.11% of Enbridge worth $112,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC grew its holdings in Enbridge by 114.6% during the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 267 shares during the period. GK Wealth Management LLC bought a new position in shares of Enbridge in the third quarter worth about $25,000. Signature Equity Partners LLC raised its stake in shares of Enbridge by 476.5% in the third quarter. Signature Equity Partners LLC now owns 588 shares of the pipeline company’s stock worth $27,000 after buying an additional 486 shares during the period. Quintet Private Bank Europe S.A. lifted its position in shares of Enbridge by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company’s stock valued at $28,000 after buying an additional 300 shares in the last quarter. Finally, City Holding Co. lifted its position in shares of Enbridge by 121.5% during the 2nd quarter. City Holding Co. now owns 649 shares of the pipeline company’s stock valued at $35,000 after buying an additional 356 shares in the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ENB shares. Royal Bank Of Canada boosted their price objective on Enbridge from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. The Goldman Sachs Group initiated coverage on shares of Enbridge in a research note on Wednesday, September 30th. They set a “neutral” rating and a $50.00 target price on the stock. Scotiabank upgraded shares of Enbridge to a “strong-buy” rating in a research note on Thursday, September 17th. Wolfe Research set a $50.00 price target on shares of Enbridge in a report on Tuesday, August 4th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Enbridge in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus price target of $65.88.

Enbridge Price Performance

NYSE:ENB opened at $47.91 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.81 and a debt-to-equity ratio of 1.66. The business’s 50-day simple moving average is $47.93 and its two-hundred day simple moving average is $52.18. The stock has a market cap of $106.79 billion, a PE ratio of 21.81, a P/E/G ratio of 5.69 and a beta of 0.59. Enbridge Inc has a 52 week low of $45.03 and a 52 week high of $58.45.

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

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of C$0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend is Friday, November 13th. Enbridge’s dividend payout ratio (DPR) is 134.80%.

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.