Stock Traders Buy Large Volume of Put Options on Enbridge (NYSE:ENB)

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

Enbridge Stock Performance

Shares of NYSE:ENB opened at $42.90 on Thursday. Enbridge has a 12-month low of $32.85 and a 12-month high of $43.70. The company’s 50 day moving average price is $41.52 and its two-hundred day moving average price is $38.79. The firm has a market cap of $93.44 billion, a PE ratio of 19.86, a PEG ratio of 4.18 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

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, topping analysts’ consensus estimates of $0.40 by $0.15. The firm had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same quarter last year, the company earned $0.46 EPS. Equities research analysts predict that Enbridge will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a dividend of $0.676 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 annualized dividend and a yield of 6.30%. Enbridge’s dividend payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently bought and sold shares of ENB. McIlrath & Eck LLC lifted its holdings in shares of 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 acquiring an additional 295 shares during the period. Grove Bank & Trust lifted its stake in Enbridge by 56.7% during the third 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 stake in Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of Enbridge in the 2nd quarter valued at $28,000. Finally, William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter worth $28,000. 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.