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

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw some unusual options trading activity on Wednesday. Traders bought 20,216 put options on the company. This is an increase of 1,036% compared to the typical daily volume of 1,779 put options.

Enbridge Stock Up 1.3 %

Shares of NYSE ENB opened at $45.14 on Thursday. Enbridge has a 12 month low of $32.86 and a 12 month high of $45.78. The firm has a market capitalization of $98.37 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 3.92 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average of $43.48 and a 200-day moving average of $42.57.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 14th. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the company posted $0.64 EPS. Sell-side analysts expect that Enbridge will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ENB shares. CIBC restated 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 issued a “buy” rating on the stock. Finally, Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Hedge Funds Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently modified their holdings of ENB. Metis Global Partners LLC boosted its stake in Enbridge by 4.0% in the fourth quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after buying an additional 7,986 shares in the last quarter. Aviso Financial Inc. boosted its stake in shares of Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock valued at $60,152,000 after purchasing an additional 58,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after purchasing an additional 319,907 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Enbridge by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the last quarter. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Company 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.