Investors Buy Large Volume of Put Options on Enbridge (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw unusually large 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.

Analysts Set New Price Targets

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

Enbridge Price Performance

Shares of ENB opened at $33.91 on Friday. The firm has a market cap of $72.09 billion, a PE ratio of 16.15, a P/E/G ratio of 3.12 and a beta of 0.84. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30. The firm has a fifty day simple moving average of $35.02 and a two-hundred day simple moving average of $34.64. Enbridge has a 1-year low of $31.03 and a 1-year high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. On average, equities analysts anticipate that Enbridge will post 2.12 EPS for the current year.

Institutional Investors Weigh In On Enbridge

A number of hedge funds have recently modified their holdings of ENB. Moneta Group Investment Advisors LLC grew its position in shares of Enbridge by 109,143.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 48,468,082 shares of the pipeline company’s stock valued at $1,895,102,000 after acquiring an additional 48,423,715 shares during the period. Canoe Financial LP grew its position in shares of Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock valued at $1,205,251,000 after acquiring an additional 33,419,164 shares during the period. Wellington Management Group LLP grew its position in shares of Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Norges Bank bought a new stake in shares of Enbridge during the 4th quarter valued at $714,662,000. Finally, TD Asset Management Inc grew its position in shares of Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company’s stock valued at $1,365,583,000 after acquiring an additional 7,536,678 shares during the period. 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.