Enbridge Target of Unusually High Options Trading (NYSE:ENB)

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

Analyst Ratings Changes

Several brokerages have recently commented on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, TD Securities assumed coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Price Performance

Shares of NYSE ENB opened at $43.96 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The business’s 50 day moving average price is $43.13 and its 200 day moving average price is $41.32. Enbridge has a 52 week low of $32.85 and a 52 week high of $45.78. The firm has a market cap of $95.76 billion, a P/E ratio of 20.35, a P/E/G ratio of 4.02 and a beta of 0.94.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 124.07%.

Hedge Funds Weigh In On Enbridge

Institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in Enbridge by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after acquiring an additional 936,863 shares in the last quarter. National Bank of Canada FI lifted its stake in Enbridge by 12.8% in the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock valued at $737,754,000 after buying an additional 2,061,758 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Enbridge by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock worth $655,556,000 after buying an additional 176,733 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Enbridge by 27.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after acquiring an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other 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.