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 acquired 20,216 put options on the company. This is an increase of 1,036% compared to the typical volume of 1,779 put options.

Enbridge Price Performance

Shares of NYSE ENB opened at $44.61 on Thursday. 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 company has a market capitalization of $97.21 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 3.92 and a beta of 0.80. Enbridge has a twelve month low of $32.86 and a twelve month high of $46.12. The business has a 50 day simple moving average of $43.14 and a 200-day simple moving average of $42.72.

Enbridge (NYSE:ENB) (TSE:ENB) last released 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. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. As a group, equities research analysts expect that Enbridge will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ENB shares. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They set a “buy” rating for the company. Royal Bank of Canada lifted their price target on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, TD Securities initiated coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Hedge Funds Weigh In On Enbridge

A number of large investors have recently bought and sold shares of the business. McIlrath & Eck LLC raised its position in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter worth $29,000. Wintrust Investments LLC lifted its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock valued at $31,000 after buying an additional 238 shares during the last quarter. GeoWealth Management LLC boosted its holdings in shares of Enbridge by 436.4% during the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 611 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in shares of Enbridge during the fourth quarter worth about $39,000. Institutional investors own 54.60% of the company’s stock.

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.