Enbridge Target of Unusually High Options Trading (NYSE:ENB)

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

Hedge Funds Weigh In On Enbridge

A number of large investors have recently bought and sold shares of ENB. Brighton Jones LLC acquired a new stake in shares of Enbridge in the 4th quarter valued at approximately $261,000. AQR Capital Management LLC boosted its holdings in shares of Enbridge by 68.5% in the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after buying an additional 11,599 shares during the last quarter. AXA S.A. boosted its holdings in shares of Enbridge by 15.5% in the 2nd quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock valued at $5,161,000 after buying an additional 15,259 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of Enbridge by 93.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock valued at $1,042,000 after buying an additional 10,617 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Enbridge by 80.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after buying an additional 34,912 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Down 0.1%

NYSE:ENB opened at $52.54 on Friday. Enbridge has a twelve month low of $43.59 and a twelve month high of $55.44. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The business has a 50 day moving average price of $53.31 and a two-hundred day moving average price of $49.67. The company has a market cap of $114.73 billion, a P/E ratio of 22.84 and a beta of 0.63.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. As a group, analysts expect that Enbridge will post 2.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ENB shares. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday, February 17th. Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Finally, TD Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Company Profile

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.