Investors Purchase High Volume of Call Options on Enbridge (ENB)

Enbridge (NYSE:ENB) (TSE:ENB) was the recipient of unusually large options trading on Thursday. Traders acquired 6,915 call options on the company. This represents an increase of approximately 1,578% compared to the average volume of 412 call options.

Enbridge stock opened at $31.49 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.53 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $52,364.42, a P/E ratio of 20.45, a P/E/G ratio of 1.96 and a beta of 0.63. Enbridge has a twelve month low of $29.54 and a twelve month high of $42.92.

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Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, February 16th. The pipeline company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. The company had revenue of $10.15 billion for the quarter, compared to the consensus estimate of $9.39 billion. Enbridge had a return on equity of 5.47% and a net margin of 6.56%. analysts expect that Enbridge will post 1.75 EPS for the current fiscal year.

In other news, insider Robert R. Rooney bought 6,100 shares of Enbridge stock in a transaction on Thursday, March 15th. The shares were purchased at an average price of $40.80 per share, for a total transaction of $248,880.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael E. J. Phelps sold 18,054 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $34.00, for a total value of $613,836.00. Following the transaction, the director now owns 56,245 shares in the company, valued at approximately $1,912,330. The disclosure for this sale can be found here.

Several institutional investors have recently bought and sold shares of ENB. First Trust Advisors LP grew its stake in shares of Enbridge by 33.7% in the 3rd quarter. First Trust Advisors LP now owns 6,750 shares of the pipeline company’s stock worth $282,000 after buying an additional 1,700 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Enbridge by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 752,114 shares of the pipeline company’s stock worth $31,465,000 after buying an additional 31,921 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of Enbridge by 22.0% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 33,219 shares of the pipeline company’s stock worth $1,390,000 after buying an additional 5,982 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Enbridge by 4.6% in the 3rd quarter. Private Advisor Group LLC now owns 59,197 shares of the pipeline company’s stock worth $2,436,000 after buying an additional 2,600 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Enbridge by 5.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 87,372 shares of the pipeline company’s stock worth $3,654,000 after buying an additional 4,296 shares during the last quarter. Institutional investors own 63.22% of the company’s stock.

ENB has been the topic of a number of research analyst reports. Bank of America initiated coverage on Enbridge in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. Morgan Stanley reduced their target price on Enbridge from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. ValuEngine downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Monday. Mizuho initiated coverage on Enbridge in a report on Thursday, March 29th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research downgraded Enbridge from a “hold” rating to a “sell” rating in a report on Thursday, March 29th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.67.

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Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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