Investors Buy Large Volume of Put Options on Enbridge (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of some unusual options trading on Wednesday. Stock traders bought 20,216 put options on the company. This represents an increase of approximately 1,036% compared to the typical daily volume of 1,779 put options.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ENB shares. Stifel Nicolaus started coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Up 1.7 %

Shares of Enbridge stock opened at $33.91 on Friday. Enbridge has a one year low of $31.03 and a one year high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The stock’s 50-day moving average is $35.02 and its 200 day moving average is $34.64. The firm has a market cap of $72.09 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 3.12 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $9.62 billion. Equities research analysts anticipate that Enbridge will post 2.12 EPS for the current year.

Institutional Investors Weigh In On Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in ENB. Moneta Group Investment Advisors LLC raised its stake in Enbridge by 109,143.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after buying an additional 48,423,715 shares during the period. Canoe Financial LP raised its stake in Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the period. Wellington Management Group LLP raised its stake in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock worth $1,083,938,000 after buying an additional 28,076,386 shares during the period. Norges Bank acquired a new position in Enbridge during the 4th quarter worth approximately $714,662,000. Finally, TD Asset Management Inc raised its stake in Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock worth $1,365,583,000 after buying an additional 7,536,678 shares during the period. Institutional investors own 54.60% of the company’s stock.

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.