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

Maryland State Retirement & Pension System increased its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,707,761 shares of the pipeline company’s stock after acquiring an additional 39,662 shares during the period. Enbridge makes up 1.8% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 5th largest holding. Maryland State Retirement & Pension System owned about 0.12% of Enbridge worth $96,342,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ENB. Yousif Capital Management LLC lifted its stake in shares of Enbridge by 12.3% in the fourth quarter. Yousif Capital Management LLC now owns 37,427 shares of the pipeline company’s stock worth $1,348,000 after buying an additional 4,100 shares in the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of Enbridge during the fourth quarter valued at $220,000. Choreo LLC raised its position in Enbridge by 2.0% in the 4th quarter. Choreo LLC now owns 21,899 shares of the pipeline company’s stock worth $789,000 after buying an additional 430 shares during the last quarter. Intrust Bank NA grew its stake in shares of Enbridge by 7.5% in the fourth quarter. Intrust Bank NA now owns 14,447 shares of the pipeline company’s stock worth $520,000 after acquiring an additional 1,005 shares during the period. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Enbridge by 38.3% during the fourth quarter. Kestra Private Wealth Services LLC now owns 27,979 shares of the pipeline company’s stock valued at $1,008,000 after purchasing an additional 7,746 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Stock Performance

ENB stock traded up $0.62 on Friday, hitting $40.18. The company had a trading volume of 4,767,545 shares, compared to its average volume of 5,393,787. The stock has a market cap of $85.74 billion, a price-to-earnings ratio of 20.40, a P/E/G ratio of 3.55 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. The stock’s 50-day simple moving average is $37.19 and its 200 day simple moving average is $36.12. Enbridge Inc. has a 12-month low of $31.03 and a 12-month high of $40.32.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, equities research analysts expect that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a $0.669 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.66%. Enbridge’s payout ratio is presently 134.01%.

Enbridge Profile

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.