Enbridge Sees Unusually High Options Volume (NYSE:ENB)

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

Hedge Funds Weigh In On Enbridge

A number of hedge funds have recently modified their holdings of the business. River Street Advisors LLC grew its holdings in shares of Enbridge by 7.0% during the 1st quarter. River Street Advisors LLC now owns 22,847 shares of the pipeline company’s stock worth $827,000 after purchasing an additional 1,498 shares during the period. Founders Financial Securities LLC grew its holdings in shares of Enbridge by 7.7% during the 1st quarter. Founders Financial Securities LLC now owns 51,178 shares of the pipeline company’s stock worth $1,852,000 after purchasing an additional 3,681 shares during the period. Vicus Capital purchased a new position in shares of Enbridge during the 1st quarter worth $310,000. Alpha Omega Wealth Management LLC grew its holdings in shares of Enbridge by 3.3% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 133,259 shares of the pipeline company’s stock worth $4,821,000 after purchasing an additional 4,252 shares during the period. Finally, First Bank & Trust grew its holdings in shares of Enbridge by 5.4% during the 1st quarter. First Bank & Trust now owns 88,769 shares of the pipeline company’s stock worth $3,212,000 after purchasing an additional 4,579 shares during the period. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Stock Up 1.1 %

Shares of NYSE:ENB opened at $33.33 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The business has a fifty day moving average of $35.03 and a two-hundred day moving average of $34.65. The stock has a market cap of $70.85 billion, a P/E ratio of 15.87, a PEG ratio of 3.17 and a beta of 0.84. Enbridge has a 52-week low of $31.03 and a 52-week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%. On average, research analysts expect that Enbridge will post 2.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.