Traders Purchase Large Volume of Put Options on Enbridge (NYSE:ENB)

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB saw unusually large options trading activity on Wednesday. Traders bought 20,216 put options on the stock. This represents an increase of approximately 1,036% compared to the average daily volume of 1,779 put options.

Enbridge Stock Performance

Shares of ENB stock traded up $0.75 during trading hours on Friday, hitting $45.32. The stock had a trading volume of 4,781,000 shares, compared to its average volume of 4,366,022. The stock's 50 day moving average is $43.15 and its 200 day moving average is $42.81. The firm has a market capitalization of $98.76 billion, a PE ratio of 26.35, a PEG ratio of 3.92 and a beta of 0.80. Enbridge has a twelve month low of $34.60 and a twelve month high of $46.12. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.55 and a quick ratio of 0.54.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $11.59 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, research analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Enbridge

Large investors have recently modified their holdings of the stock. McIlrath & Eck LLC raised its holdings in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of Enbridge during the 4th quarter worth approximately $29,000. Wintrust Investments LLC grew its holdings in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after acquiring an additional 238 shares during the period. GeoWealth Management LLC increased its stake in Enbridge by 436.4% in the 4th quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company's stock valued at $32,000 after purchasing an additional 611 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Enbridge during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent analyst reports. Citigroup began coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating for the company. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities began coverage on Enbridge in a research report on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Enbridge has an average rating of "Moderate Buy" and an average price target of $67.00.

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.