Traders Buy High Volume of Put Options on Enbridge (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of unusually large options trading on Wednesday. Investors acquired 20,216 put options on the company. This is an increase of approximately 1,036% compared to the average volume of 1,779 put options.

Enbridge Price Performance

ENB stock opened at $44.21 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55. The stock’s 50 day moving average price is $43.45 and its 200 day moving average price is $42.31. The firm has a market cap of $96.34 billion, a P/E ratio of 25.70, a PEG ratio of 3.92 and a beta of 0.95. Enbridge has a 1 year low of $32.86 and a 1 year high of $45.78.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results 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. The firm had revenue of $11.59 billion during 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 posted $0.64 EPS. On average, sell-side analysts expect that Enbridge will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently modified their holdings of ENB. Vanguard Group Inc. raised its holdings in Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock valued at $3,888,507,000 after acquiring an additional 3,611,421 shares during the last quarter. GQG Partners LLC boosted its position in shares of Enbridge by 2.1% in the fourth quarter. GQG Partners LLC now owns 74,290,740 shares of the pipeline company’s stock worth $3,151,500,000 after acquiring an additional 1,495,742 shares during the last quarter. TD Asset Management Inc. boosted its position in shares of Enbridge by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 38,752,759 shares of the pipeline company’s stock worth $1,643,935,000 after acquiring an additional 1,040,799 shares during the last quarter. Deutsche Bank AG grew its holdings in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company’s stock valued at $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Norges Bank acquired a new position in Enbridge during the fourth quarter worth approximately $909,415,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ENB shares. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, CIBC reiterated an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently 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.