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

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 20,216 put options on the company. This represents an increase of approximately 1,036% compared to the typical daily volume of 1,779 put options.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ENB shares. Raymond James Financial upgraded shares of Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. Wall Street Zen cut shares of Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. TD Securities downgraded Enbridge from a "buy" rating to a "hold" rating in a report on Tuesday, February 17th. Weiss Ratings raised Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th. Finally, BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research note on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $65.00.

Enbridge Stock Performance

NYSE:ENB opened at $53.36 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. Enbridge has a twelve month low of $43.59 and a twelve month high of $55.44. The company has a fifty day moving average of $53.47 and a 200-day moving average of $49.88. The firm has a market capitalization of $116.52 billion, a P/E ratio of 23.20 and a beta of 0.63.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The business had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Enbridge will post 2.22 EPS for the current year.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in Enbridge in the first quarter worth approximately $461,000. Cvfg LLC bought a new stake in shares of Enbridge during the first quarter valued at approximately $650,000. Hartline Investment Corp raised its position in shares of Enbridge by 37.7% during the first quarter. Hartline Investment Corp now owns 45,280 shares of the pipeline company's stock worth $2,451,000 after purchasing an additional 12,402 shares during the period. Clare Market Investments LLC acquired a new position in shares of Enbridge during the first quarter worth approximately $1,543,000. Finally, Sather Financial Group Inc lifted its holdings in shares of Enbridge by 12.7% in the 1st quarter. Sather Financial Group Inc now owns 9,325 shares of the pipeline company's stock worth $505,000 after purchasing an additional 1,050 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

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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