Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Key Points

• Enbridge saw unusually high options activity as investors purchased 20,216 put options on Wednesday, a 1,036% increase versus the average daily put volume of 1,779.
• The company recently beat EPS estimates ($0.63 vs. $0.60) on quarterly revenue of $17.18 billion, trades around $52.64 with a market cap of $114.94 billion, and holds a consensus analyst rating of Moderate Buy with an average target price of $65.

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

Enbridge Stock Down 0.7%

Shares of ENB stock opened at $52.64 on Thursday. Enbridge has a 1-year low of $43.59 and a 1-year high of $55.44. The stock's fifty day moving average price is $53.27 and its 200 day moving average price is $49.65. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The company has a market cap of $114.94 billion, a price-to-earnings ratio of 22.89 and a beta of 0.63.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the business earned $0.75 EPS. On average, research analysts expect that Enbridge will post 2.14 earnings per share for the current fiscal year.

Institutional Trading of Enbridge

Several large investors have recently bought and sold shares of ENB. Tsfg LLC grew its position in Enbridge by 329.6% during the 3rd quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock worth $25,000 after purchasing an additional 379 shares during the last quarter. Triumph Capital Management purchased a new stake in Enbridge during the 3rd quarter worth approximately $26,000. Highline Wealth Partners LLC grew its position in Enbridge by 73.1% during the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company's stock worth $28,000 after purchasing an additional 236 shares during the last quarter. Turning Point Benefit Group Inc. purchased a new stake in Enbridge during the 3rd quarter valued at about $28,000. Finally, Inspire Investing LLC purchased a new stake in Enbridge during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Ratings Changes

ENB has been the topic of a number of analyst reports. Wall Street Zen downgraded Enbridge from a "hold" rating to a "sell" rating in a report on Saturday, April 4th. Zacks Research raised shares of Enbridge from a "strong sell" rating to a "hold" rating in a research report on Monday, December 29th. Raymond James Financial raised shares of Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their price objective on shares of Enbridge from $72.00 to $76.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. downgraded shares of Enbridge from an "overweight" rating to a "neutral" rating in a research report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $65.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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