Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of unusually large options trading on Wednesday. Traders purchased 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Performance

ENB stock opened at $40.60 on Thursday. The business’s 50-day moving average price is $40.69 and its two-hundred day moving average price is $37.87. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a market cap of $86.64 billion, a PE ratio of 20.61, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge has a 1-year low of $31.68 and a 1-year high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, research analysts forecast that Enbridge will post 2.08 earnings per share for the current year.

Institutional Trading of Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of ENB. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the 2nd quarter valued at about $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge in the second quarter valued at about $28,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $29,000. Richardson Financial Services Inc. bought a new position in Enbridge during the first quarter worth about $31,000. Finally, Grove Bank & Trust grew its holdings in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.