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

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of some unusual options trading activity on Wednesday. Stock 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.

Enbridge Trading Up 0.5 %

Shares of ENB opened at $40.41 on Thursday. The stock’s fifty day simple moving average is $37.61 and its 200-day simple moving average is $36.30. The firm has a market capitalization of $86.23 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 3.90 and a beta of 0.92. Enbridge has a 12-month low of $31.03 and a 12-month high of $40.67. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34.

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

Enbridge Cuts Dividend

The business also recently announced 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 134.01%.

Institutional Trading of Enbridge

Hedge funds have recently modified their holdings of the company. Rockwood Wealth Management LLC boosted its holdings in shares of Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after buying an additional 285 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Enbridge by 3.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 298 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its stake in shares of Enbridge by 1.7% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after purchasing an additional 298 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Enbridge by 3.7% in the first quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 314 shares in the last quarter. Finally, RFG Advisory LLC boosted its position in shares of Enbridge by 2.3% during the second quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after buying an additional 325 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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.