Enbridge Sees Unusually Large Options Volume (NYSE:ENB)
by Danessa Lincoln · The Markets DailyEnbridge Inc (NYSE:ENB – Get Free Report) (TSE:ENB) was the target of some unusual options trading on Wednesday. Stock investors bought 20,216 put options on the company. This represents an increase of 1,036% compared to the typical volume of 1,779 put options.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. increased its stake in Enbridge by 83.1% in the second quarter. Westwood Holdings Group Inc. now owns 2,301,067 shares of the pipeline company’s stock valued at $104,284,000 after acquiring an additional 1,044,093 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Enbridge by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 1,676,947 shares of the pipeline company’s stock worth $83,176,000 after purchasing an additional 221,976 shares during the period. Trajan Wealth LLC increased its stake in shares of Enbridge by 15.3% in the third quarter. Trajan Wealth LLC now owns 804,261 shares of the pipeline company’s stock valued at $40,583,000 after buying an additional 106,784 shares during the period. Principal Financial Group Inc. raised its holdings in Enbridge by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 339,147 shares of the pipeline company’s stock worth $17,113,000 after purchasing an additional 24,165 shares during the last quarter. Finally, Aviva PLC lifted its position in shares of Enbridge by 6.7% in the 2nd quarter. Aviva PLC now owns 1,785,676 shares of the pipeline company’s stock worth $80,959,000 after purchasing an additional 112,305 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on ENB shares. Scotiabank reissued an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. National Bank Financial reaffirmed a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Citigroup reissued a “buy” rating on shares of Enbridge in a report on Thursday, February 19th. Weiss Ratings raised Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Finally, Raymond James Financial upgraded Enbridge to a “moderate buy” rating in a research report on Tuesday, February 17th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Enbridge currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.
Check Out Our Latest Stock Analysis on Enbridge
Enbridge Trading Down 0.6%
Enbridge stock traded down $0.35 during mid-day trading on Thursday, hitting $53.82. The stock had a trading volume of 3,444,202 shares, compared to its average volume of 5,737,960. The stock has a market capitalization of $117.42 billion, a PE ratio of 23.40 and a beta of 0.67. Enbridge has a 12 month low of $39.73 and a 12 month high of $54.42. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The stock has a 50-day simple moving average of $49.36 and a two-hundred day simple moving average of $48.50.
Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. During the same quarter in the previous year, the company posted $0.75 EPS. As a group, sell-side analysts forecast that Enbridge will post 2.14 EPS for the current year.
About Enbridge
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.