Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 20,216 put options on the company. This is an increase of 1,036% compared to the average daily volume of 1,779 put options.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company.

Enbridge Trading Up 0.5 %

ENB stock opened at $40.60 on Thursday. The stock has a market capitalization of $86.64 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The business has a fifty day moving average price of $40.69 and a 200 day moving average price of $37.87. Enbridge has a fifty-two week low of $31.68 and a fifty-two week high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period last year, the company earned $0.51 EPS. Analysts expect that Enbridge will post 2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ENB. Wealthcare Advisory Partners LLC boosted its position in Enbridge by 7.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,960 shares of the pipeline company’s stock valued at $288,000 after buying an additional 530 shares during the last quarter. Norden Group LLC bought a new position in shares of Enbridge in the 1st quarter worth $7,656,000. Cornerstone Wealth Management LLC boosted its position in shares of Enbridge by 3.4% in the 1st quarter. Cornerstone Wealth Management LLC now owns 28,799 shares of the pipeline company’s stock worth $1,042,000 after purchasing an additional 938 shares during the last quarter. Insight Folios Inc boosted its position in shares of Enbridge by 6.3% in the 1st quarter. Insight Folios Inc now owns 166,657 shares of the pipeline company’s stock worth $6,030,000 after purchasing an additional 9,881 shares during the last quarter. Finally, American National Bank & Trust Co. VA bought a new position in shares of Enbridge in the 1st quarter worth $1,102,000. 54.60% of the stock is currently owned by 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.