Stock Traders Purchase High Volume of Enbridge Put Options (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of some unusual options trading on Wednesday. Stock traders bought 20,216 put options on the company. This represents an increase of 1,036% compared to the typical daily volume of 1,779 put options.

Enbridge Price Performance

ENB stock opened at $41.80 on Friday. The business’s fifty day moving average price is $42.06 and its 200 day moving average price is $39.63. Enbridge has a 12-month low of $32.85 and a 12-month high of $44.13. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $91.05 billion, a PE ratio of 19.35, a P/E/G ratio of 4.18 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 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 business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm posted $0.46 earnings per share. On average, sell-side analysts anticipate that Enbridge will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.41%. Enbridge’s dividend payout ratio (DPR) is presently 124.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the second quarter worth about $28,000. McIlrath & Eck LLC lifted its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Grove Bank & Trust grew 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 acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC raised its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge in the 3rd quarter valued at $35,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ENB shares. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.00.

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.