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

Maryland State Retirement & Pension System lowered its position in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,723,345 shares of the pipeline company’s stock after selling 149,496 shares during the quarter. Enbridge accounts for 2.7% of Maryland State Retirement & Pension System’s holdings, making the stock its 4th biggest position. Maryland State Retirement & Pension System owned approximately 0.12% of Enbridge worth $130,381,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ENB. Brighton Jones LLC acquired a new position in Enbridge during the 4th quarter worth approximately $261,000. AQR Capital Management LLC boosted its position in Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after acquiring an additional 11,599 shares during the last quarter. AXA S.A. boosted its position in Enbridge by 15.5% during the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after acquiring an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC boosted its position in Enbridge by 93.1% during the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after acquiring an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Enbridge by 80.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock worth $3,553,000 after acquiring an additional 34,912 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.5%

Shares of Enbridge stock opened at $55.68 on Wednesday. Enbridge Inc has a 12-month low of $43.59 and a 12-month high of $58.45. The stock has a market cap of $121.59 billion, a P/E ratio of 26.14 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 0.81 and a debt-to-equity ratio of 1.69. The business’s 50 day moving average is $54.90 and its 200-day moving average is $51.79.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. During the same quarter in the prior year, the business posted $1.03 EPS. Equities research analysts predict that Enbridge Inc will post 2.18 earnings per share for the current fiscal year.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio is 133.80%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ENB shares. Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Enbridge in a research note on Monday, May 11th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Wall Street Zen upgraded Enbridge from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Enbridge in a research note on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.