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

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

Enbridge Price Performance

Shares of Enbridge stock opened at $45.24 on Thursday. The firm has a market cap of $98.69 billion, a PE ratio of 24.86 and a beta of 0.68. Enbridge has a twelve month low of $39.73 and a twelve month high of $50.54. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The business has a 50-day moving average price of $47.54 and a 200 day moving average price of $47.27.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.06). The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $8.45 billion. Enbridge had a return on equity of 10.51% and a net margin of 9.20%.During the same quarter in the prior year, the company posted $0.55 EPS. Sell-side analysts predict that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Tuesday, February 17th. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is presently 152.75%.

Institutional Trading of Enbridge

Several institutional investors have recently modified their holdings of the stock. Brighton Jones LLC purchased a new position in Enbridge in the 4th quarter valued at about $261,000. AQR Capital Management LLC increased its stake in Enbridge by 68.5% during the 1st quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock worth $1,264,000 after buying an additional 11,599 shares in the last quarter. Sciencast Management LP acquired a new position in shares of Enbridge during the first quarter valued at approximately $1,650,000. Ascent Group LLC purchased a new position in shares of Enbridge in the first quarter valued at approximately $390,000. Finally, Semmax Financial Advisors Inc. boosted its stake in shares of Enbridge by 2.3% in the first quarter. Semmax Financial Advisors Inc. now owns 132,243 shares of the pipeline company’s stock worth $6,096,000 after acquiring an additional 3,034 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ENB shares. Zacks Research raised shares of Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday, November 10th. Scotiabank reissued a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Finally, Wall Street Zen lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Sunday, September 21st. Five investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.