Stock Traders Purchase Large Volume of Enbridge Put Options (NYSE:ENB)

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

Institutional Trading of Enbridge

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Several institutional investors and hedge funds have recently modified their holdings of ENB. Norges Bank bought a new position in shares of Enbridge in the fourth quarter worth approximately $909,415,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Enbridge by 396.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 12,047,004 shares of the pipeline company's stock worth $510,816,000 after buying an additional 9,621,425 shares during the last quarter. Blackstone Inc. raised its position in shares of Enbridge by 650.7% during the 4th quarter. Blackstone Inc. now owns 5,718,089 shares of the pipeline company's stock valued at $242,619,000 after buying an additional 4,956,379 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Enbridge by 1,514.7% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,799,345 shares of the pipeline company's stock worth $194,938,000 after acquiring an additional 4,502,115 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Enbridge by 13.9% in the fourth quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after acquiring an additional 4,426,684 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Price Performance

ENB stock opened at $43.73 on Thursday. The firm has a 50 day moving average of $43.45 and a 200-day moving average of $42.30. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $95.28 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 3.92 and a beta of 0.95. Enbridge has a 12 month low of $32.86 and a 12 month high of $45.78.

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Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.64 EPS. As a group, sell-side analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating for the company. Finally, CIBC restated an "outperform" rating on shares of Enbridge in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.00.

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Check Out Our Latest Analysis on ENB

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.

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