Enbridge Target of Unusually Large Options Trading (NYSE:ENB)

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ENB. Tsfg LLC boosted its stake in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 379 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of Enbridge by 112.4% during the second quarter. Whipplewood Advisors LLC now owns 582 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 308 shares in the last quarter. Triumph Capital Management purchased a new stake in shares of Enbridge in the 3rd quarter valued at about $26,000. Highline Wealth Partners LLC boosted its position in shares of Enbridge by 73.1% in the 3rd quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 236 shares during the period. Finally, Turning Point Benefit Group Inc. purchased a new position in Enbridge during the 3rd quarter worth approximately $28,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Securities downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday. Raymond James Financial raised shares of Enbridge to a “moderate buy” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a research note on Tuesday. National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Finally, JPMorgan Chase & Co. downgraded shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and an average target price of $65.00.

Enbridge Stock Down 1.1%

Shares of NYSE ENB opened at $50.88 on Thursday. The business has a 50-day moving average of $48.22 and a two-hundred day moving average of $48.11. The company has a market capitalization of $111.00 billion, a price-to-earnings ratio of 22.12 and a beta of 0.69. Enbridge has a 1 year low of $39.73 and a 1 year high of $54.19. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.68.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the prior year, the business posted $0.75 EPS. On average, analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a dividend yield of 7.6%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. Enbridge’s payout ratio is presently 120.87%.

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.