Level Four Advisory Services LLC Cuts Holdings in Enbridge Inc. (NYSE:ENB)

Level Four Advisory Services LLC lessened its position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,736 shares of the pipeline company’s stock after selling 1,803 shares during the period. Level Four Advisory Services LLC’s holdings in Enbridge were worth $922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC lifted its stake in shares of Enbridge by 8.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 50,021 shares of the pipeline company’s stock valued at $2,122,000 after purchasing an additional 3,754 shares in the last quarter. Premier Fund Managers Ltd lifted its position in Enbridge by 85.9% during the fourth quarter. Premier Fund Managers Ltd now owns 278,800 shares of the pipeline company’s stock valued at $11,724,000 after buying an additional 128,800 shares in the last quarter. Duff & Phelps Investment Management Co. grew its stake in Enbridge by 10.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,439,951 shares of the pipeline company’s stock worth $61,097,000 after buying an additional 137,819 shares during the period. Norges Bank acquired a new stake in shares of Enbridge in the fourth quarter worth $909,415,000. Finally, AssuredPartners Investment Advisors LLC purchased a new position in shares of Enbridge in the 4th quarter valued at $658,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB stock opened at $44.43 on Monday. The company’s fifty day moving average price is $43.49 and its two-hundred day moving average price is $42.50. 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 firm has a market capitalization of $96.82 billion, a P/E ratio of 25.83, a P/E/G ratio of 3.92 and a beta of 0.95. Enbridge Inc. has a 12 month low of $32.86 and a 12 month 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 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, research analysts anticipate that Enbridge Inc. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. CIBC reiterated an “outperform” rating on shares of Enbridge in a report on Wednesday, March 5th. TD Securities initiated coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.