Enbridge Sees Unusually High Options Volume (NYSE:ENB)

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ENB. Brighton Jones LLC purchased a new position in shares of Enbridge in the fourth quarter worth $261,000. Essex Financial Services Inc. raised its holdings in shares of Enbridge by 285.0% in the first quarter. Essex Financial Services Inc. now owns 19,002 shares of the pipeline company’s stock worth $842,000 after buying an additional 14,066 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Enbridge by 5.1% in the first quarter. WASHINGTON TRUST Co now owns 6,351 shares of the pipeline company’s stock worth $281,000 after buying an additional 309 shares during the last quarter. Red Door Wealth Management LLC purchased a new position in shares of Enbridge in the first quarter worth $229,000. Finally, Koshinski Asset Management Inc. raised its holdings in shares of Enbridge by 30.6% in the first quarter. Koshinski Asset Management Inc. now owns 6,726 shares of the pipeline company’s stock worth $298,000 after buying an additional 1,574 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Tuesday, August 5th. Zacks Research downgraded shares of Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Argus increased their price objective on shares of Enbridge from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 12th. Scotiabank reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday, October 20th. Finally, CIBC downgraded shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.50.

Enbridge Price Performance

Shares of ENB opened at $46.64 on Thursday. The company has a market cap of $101.70 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 4.27 and a beta of 0.78. Enbridge has a twelve month low of $39.73 and a twelve month high of $50.54. The company has a quick ratio of 0.65, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a 50 day moving average of $48.42 and a two-hundred day moving average of $46.66.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the firm earned $0.58 earnings per share. As a group, analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

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.