Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw unusually large options trading activity on Wednesday. Stock traders bought 20,216 put options on the company. This represents an increase of approximately 1,036% compared to the average volume of 1,779 put options.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC lifted its position in Enbridge by 39.9% during the fourth quarter. Fisher Asset Management LLC now owns 11,833 shares of the pipeline company’s stock valued at $426,000 after purchasing an additional 3,373 shares during the last quarter. First Horizon Advisors Inc. grew its position in Enbridge by 12.4% in the fourth quarter. First Horizon Advisors Inc. now owns 4,063 shares of the pipeline company’s stock worth $146,000 after acquiring an additional 448 shares in the last quarter. Natixis Advisors L.P. grew its position in Enbridge by 52.0% in the fourth quarter. Natixis Advisors L.P. now owns 103,686 shares of the pipeline company’s stock worth $3,734,000 after acquiring an additional 35,473 shares in the last quarter. Merit Financial Group LLC raised its position in Enbridge by 39.4% during the fourth quarter. Merit Financial Group LLC now owns 13,631 shares of the pipeline company’s stock valued at $491,000 after purchasing an additional 3,856 shares during the period. Finally, Sheets Smith Wealth Management raised its position in Enbridge by 4.7% during the fourth quarter. Sheets Smith Wealth Management now owns 10,657 shares of the pipeline company’s stock valued at $384,000 after purchasing an additional 475 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Price Performance

Shares of Enbridge stock opened at $40.41 on Thursday. The company has a market capitalization of $86.23 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 3.90 and a beta of 0.92. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The stock’s 50-day simple moving average is $37.61 and its 200-day simple moving average is $36.30. Enbridge has a 52 week low of $31.03 and a 52 week high of $40.67.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the firm earned $0.51 EPS. As a group, analysts expect that Enbridge will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 6.62%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is currently 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.