Enbridge Sees Unusually Large Options Volume (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 20,216 put options on the stock. This represents an increase of approximately 1,036% compared to the average daily volume of 1,779 put options.

Wall Street Analysts Forecast Growth

ENB has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Price Performance

Enbridge stock opened at $41.87 on Thursday. The stock has a fifty day moving average of $42.06 and a 200-day moving average of $39.60. The stock has a market capitalization of $91.20 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge has a 52 week low of $32.85 and a 52 week high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the firm posted $0.46 EPS. On average, sell-side analysts expect that Enbridge will post 2.03 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.40%. Enbridge’s dividend payout ratio is currently 124.07%.

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently bought and sold shares of the company. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% during 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 period. Grove Bank & Trust raised its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC lifted its holdings in Enbridge by 55.6% in 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. acquired a new position in Enbridge in the second quarter valued at approximately $28,000. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the third quarter worth $35,000. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.