Investors Purchase High Volume of Put Options on Enbridge (NYSE:ENB)

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

Enbridge Stock Down 0.7 %

Shares of NYSE ENB opened at $40.52 on Thursday. Enbridge has a 12 month low of $31.03 and a 12 month high of $41.22. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $86.45 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 3.91 and a beta of 0.94. The business has a 50-day moving average of $38.61 and a 200-day moving average of $36.72.

Enbridge (NYSE:ENB) (TSE:ENB) last released its 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. The company had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the previous year, the company posted $0.51 EPS. Sell-side analysts expect that Enbridge will post 2.06 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.60%. Enbridge’s dividend payout ratio is presently 134.01%.

Institutional Investors Weigh In On Enbridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockwood Wealth Management LLC lifted its holdings in shares of Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 285 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Enbridge by 3.7% in 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 lifted its holdings in 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 worth $649,000 after purchasing an additional 298 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock worth $319,000 after purchasing an additional 314 shares in the last quarter. Finally, RFG Advisory LLC increased its stake in Enbridge by 2.3% in the 2nd quarter. RFG Advisory LLC now owns 14,183 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 325 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

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.