Enbridge Sees Unusually High Options Volume (NYSE:ENB)

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ENB shares. Jefferies Financial Group started coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Stifel Nicolaus started coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus price target of $55.20.

Enbridge Price Performance

NYSE ENB opened at $33.33 on Thursday. The company has a market capitalization of $70.85 billion, a PE 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. The business’s fifty day moving average is $35.03 and its 200 day moving average is $34.65. Enbridge has a fifty-two week low of $31.03 and a fifty-two week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The company had revenue of $8.37 billion for 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%. Sell-side analysts predict that Enbridge will post 2.13 earnings per share for the current year.

Hedge Funds Weigh In On Enbridge

Large investors have recently made changes to their positions in the business. Quilter Plc purchased a new position in shares of Enbridge in the first quarter valued at about $293,879,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Enbridge in the fourth quarter valued at about $25,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Enbridge in the fourth quarter worth about $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Enbridge in the second quarter worth about $26,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Enbridge in the first quarter worth about $27,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.