Enbridge Sees Unusually Large Options Volume (NYSE:ENB)

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

Enbridge Stock Up 1.0%

Shares of NYSE:ENB opened at $48.77 on Thursday. The firm has a 50 day simple moving average of $48.28 and a 200 day simple moving average of $46.81. Enbridge has a 52 week low of $39.73 and a 52 week high of $50.54. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.65 and a current ratio of 0.75. The company has a market cap of $106.37 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 4.31 and a beta of 0.76.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $8.45 billion. Enbridge had a net margin of 10.11% and a return on equity of 10.77%. During the same period last year, the firm earned $0.55 earnings per share. As a group, research analysts expect that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.9425 per share. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.68. This represents a $3.77 annualized dividend and a yield of 7.7%. Enbridge’s payout ratio is presently 147.25%.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently bought and sold shares of the business. Dagco Inc. bought a new position in shares of Enbridge during the 1st quarter valued at $25,000. Tsfg LLC increased its position in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock valued at $26,000 after buying an additional 308 shares in the last quarter. Highline Wealth Partners LLC lifted its position in shares of Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Enbridge during the 2nd quarter worth about $29,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a report on Monday. BMO Capital Markets reissued a “market perform” rating on shares of Enbridge in a research note on Monday. Royal Bank Of Canada raised their target price on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday. Cibc World Mkts cut Enbridge from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

About Enbridge

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.