Enbridge Sees Unusually High Options Volume (NYSE:ENB)

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.00.

Hedge Funds Weigh In On Enbridge

Several institutional investors have recently added to or reduced their stakes in the business. McIlrath & Eck LLC boosted its stake in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Grove Bank & Trust boosted its holdings in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC grew its position in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the period. William B. Walkup & Associates Inc. bought a new stake in Enbridge in the second quarter worth about $28,000. Finally, Fortitude Family Office LLC purchased a new position in Enbridge in the third quarter valued at about $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Price Performance

ENB stock opened at $44.05 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 firm has a market cap of $95.95 billion, a P/E ratio of 20.39, a P/E/G ratio of 4.14 and a beta of 0.93. The company’s 50-day moving average price is $42.37 and its two-hundred day moving average price is $40.15. Enbridge has a 12 month low of $32.85 and a 12 month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, analysts anticipate that Enbridge will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

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.