Enbridge Target of Unusually Large Options Trading (NYSE:ENB)

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the target of some unusual options trading activity on Wednesday. Investors acquired 20,216 put options on the company. This represents an increase of 1,036% compared to the average daily volume of 1,779 put options.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently made changes to their positions in the stock. apricus wealth LLC grew its holdings in Enbridge by 1.1% during the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after acquiring an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Enbridge by 0.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. increased its holdings in Enbridge by 3.2% in the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock valued at $319,000 after buying an additional 230 shares during the last quarter. Wintrust Investments LLC raised 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 in the last quarter. Finally, Eagle Bay Advisors LLC lifted its holdings in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after buying an additional 240 shares during the last quarter. 54.60% of the stock is owned by institutional investors and hedge funds.

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Enbridge Stock Up 0.5 %

ENB traded up $0.22 during trading hours on Thursday, hitting $45.36. 5,854,596 shares of the company's stock were exchanged, compared to its average volume of 4,398,941. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. Enbridge has a 12-month low of $32.86 and a 12-month high of $46.10. The firm has a market cap of $98.84 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. The firm has a 50 day moving average of $43.48 and a 200 day moving average of $42.57.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ENB shares. TD Securities started coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating on the stock. Royal Bank of Canada upped their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.