Maryland State Retirement & Pension System Has $87.95 Million Position in Enbridge Inc. (NYSE:ENB)

Maryland State Retirement & Pension System increased its stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,668,099 shares of the pipeline company’s stock after purchasing an additional 45,910 shares during the period. Enbridge makes up 1.7% of Maryland State Retirement & Pension System’s holdings, making the stock its 5th biggest holding. Maryland State Retirement & Pension System owned 0.13% of Enbridge worth $87,945,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Canoe Financial LP increased its stake in shares of Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares during the last quarter. Wellington Management Group LLP raised its stake in Enbridge by 630.3% during the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after acquiring an additional 28,076,386 shares in the last quarter. Norges Bank bought a new position in shares of Enbridge in the fourth quarter worth about $714,662,000. TD Asset Management Inc boosted its stake in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after purchasing an additional 7,536,678 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after purchasing an additional 4,400,848 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Price Performance

ENB traded up $0.08 on Thursday, reaching $35.89. The stock had a trading volume of 2,220,354 shares, compared to its average volume of 4,510,094. The firm has a 50-day moving average of $36.02 and a 200-day moving average of $35.64. Enbridge Inc. has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The company has a market capitalization of $76.59 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 3.36 and a beta of 0.92. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. The firm had revenue of $8.19 billion for the quarter, compared to analyst estimates of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. As a group, sell-side analysts anticipate that Enbridge Inc. will post 2.13 EPS for the current year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a $0.677 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a yield of 7.55%. Enbridge’s dividend payout ratio is presently 136.04%.

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.