Stock Traders Buy Large Volume of Enbridge Put Options (NYSE:ENB)

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on ENB. TD Securities initiated coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada boosted their price objective 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, CIBC reissued an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Enbridge Price Performance

Shares of NYSE ENB opened at $44.21 on Friday. 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 has a 1-year low of $32.86 and a 1-year high of $45.78. The company has a market capitalization of $96.34 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 3.92 and a beta of 0.95. The business has a 50-day moving average of $43.45 and a 200-day moving average of $42.31.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results 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 firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities analysts anticipate that Enbridge will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. McIlrath & Eck LLC increased its stake in 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 buying an additional 295 shares during the period. Albion Financial Group UT acquired a new stake in shares of Enbridge during the fourth quarter valued at about $29,000. Wintrust Investments LLC increased its position in shares of Enbridge by 47.8% during the fourth 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 last quarter. GeoWealth Management LLC lifted its stake in shares of Enbridge by 436.4% in the fourth quarter. GeoWealth Management LLC now owns 751 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 611 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in Enbridge in the third quarter valued at about $37,000. 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.