Maryland State Retirement & Pension System Has $121.66 Million Holdings in Enbridge Inc. (NYSE:ENB)

Maryland State Retirement & Pension System boosted its stake in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,867,789 shares of the pipeline company’s stock after acquiring an additional 35,173 shares during the period. Enbridge accounts for about 2.6% of Maryland State Retirement & Pension System’s portfolio, making the stock its 4th biggest position. Maryland State Retirement & Pension System’s holdings in Enbridge were worth $121,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. apricus wealth LLC raised its stake in Enbridge by 1.1% during the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock worth $875,000 after acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in Enbridge by 0.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. lifted its stake in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 230 shares during the last quarter. Wintrust Investments LLC boosted its position in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares in the last quarter. Finally, Eagle Bay Advisors LLC grew its stake in shares of Enbridge by 10.6% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock worth $106,000 after buying an additional 240 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ENB shares. CIBC reissued an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Enbridge Price Performance

Shares of ENB opened at $43.41 on Wednesday. The business has a 50-day moving average of $43.45 and a 200-day moving average of $42.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54. The company has a market capitalization of $94.59 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, equities research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current year.

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.