Investors Purchase High Volume of Put Options on Enbridge (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw some unusual options trading on Wednesday. Investors bought 20,216 put options on the company. This is an increase of 1,036% compared to the typical volume of 1,779 put options.

Hedge Funds Weigh In On Enbridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENB. TruNorth Capital Management LLC bought a new position in Enbridge during the second quarter worth $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter worth $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge during the 1st quarter worth $31,000. Finally, PFS Partners LLC raised its stake in shares of Enbridge by 95.8% during the 1st quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 451 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

NYSE ENB opened at $40.52 on Thursday. The business has a 50 day simple moving average of $38.61 and a 200 day simple moving average of $36.72. Enbridge has a 52-week low of $31.03 and a 52-week high of $41.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a market cap of $86.45 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating 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 company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. Analysts anticipate that Enbridge will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.669 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.68 annualized dividend and a dividend yield of 6.60%. Enbridge’s dividend payout ratio is 134.01%.

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.