Traders Buy High Volume of Put Options on Enbridge (NYSE:ENB)

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

Analysts Set New Price Targets

ENB has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price target on shares of Enbridge in a report on Monday, May 12th. Finally, Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Price Performance

NYSE ENB traded down $0.47 on Friday, reaching $45.00. The company had a trading volume of 4,603,612 shares, compared to its average volume of 3,833,071. Enbridge has a 12 month low of $36.38 and a 12 month high of $47.44. The stock has a market capitalization of $98.11 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 4.20 and a beta of 0.79. The firm's 50 day moving average price is $45.41 and its 200 day moving average price is $44.51. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.04. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. During the same period last year, the company posted $0.92 EPS. As a group, equities analysts predict that Enbridge will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Enbridge

A number of institutional investors and hedge funds have recently made changes to their positions in ENB. Brighton Jones LLC purchased a new position in shares of Enbridge in the 4th quarter worth $261,000. American Century Companies Inc. grew its stake in shares of Enbridge by 3.1% in the 4th quarter. American Century Companies Inc. now owns 223,023 shares of the pipeline company's stock worth $9,466,000 after buying an additional 6,603 shares in the last quarter. LPL Financial LLC boosted its stake in shares of Enbridge by 4.3% during the 4th quarter. LPL Financial LLC now owns 3,070,336 shares of the pipeline company's stock worth $130,274,000 after purchasing an additional 127,242 shares during the period. Vanguard Group Inc. boosted its stake in shares of Enbridge by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company's stock worth $3,888,507,000 after purchasing an additional 3,611,421 shares during the period. Finally, Congress Wealth Management LLC DE purchased a new position in shares of Enbridge during the 4th quarter worth about $325,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

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.