Stock Traders Buy Large Volume of Enbridge Put Options (NYSE:ENB)

Enbridge Inc (NYSE:ENB) (TSE:ENB) saw some unusual options trading activity on Wednesday. Traders purchased 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.

Hedge Funds Weigh In On Enbridge

A number of hedge funds have recently bought and sold shares of ENB. Vanguard Group Inc. lifted its holdings in Enbridge by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Enbridge by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock valued at $2,019,473,000 after acquiring an additional 137,897 shares during the last quarter. Norges Bank acquired a new stake in shares of Enbridge during the 4th quarter valued at approximately $1,195,559,000. Geode Capital Management LLC lifted its stake in Enbridge by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock worth $1,045,172,000 after purchasing an additional 1,415,995 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Enbridge by 4.6% during the fourth quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after purchasing an additional 858,323 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Down 1.5%

Shares of NYSE:ENB opened at $53.26 on Thursday. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The company has a fifty day simple moving average of $50.69 and a 200 day simple moving average of $48.94. The firm has a market cap of $116.20 billion, a PE ratio of 23.16 and a beta of 0.67. Enbridge has a 12-month low of $39.73 and a 12-month high of $54.70.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same period in the prior year, the firm posted $0.75 EPS. On average, equities research analysts anticipate that Enbridge will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Citigroup restated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. Finally, Raymond James Financial raised Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.