Enbridge Sees Unusually High Options Volume (NYSE:ENB)

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

Institutional Trading of Enbridge

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Enbridge by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company’s stock worth $2,991,585,000 after acquiring an additional 1,561,598 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Enbridge by 109,143.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock worth $1,895,102,000 after acquiring an additional 48,423,715 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Enbridge by 24.9% in the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after purchasing an additional 7,536,678 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Enbridge by 2.5% in the 4th quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company’s stock valued at $1,271,115,000 after purchasing an additional 846,796 shares during the last quarter. Finally, Canoe Financial LP boosted its holdings in shares of Enbridge by 80,631.1% in the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after purchasing an additional 33,419,164 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Up 1.1 %

Shares of NYSE ENB opened at $33.33 on Thursday. Enbridge has a 1 year low of $31.03 and a 1 year high of $40.30. The firm’s 50 day moving average price is $35.03 and its 200 day moving average price is $34.65. The firm has a market cap of $70.85 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. As a group, sell-side analysts anticipate that Enbridge will post 2.13 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.