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

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

Enbridge Stock Up 0.9 %

ENB stock opened at $44.05 on Thursday. The firm has a market cap of $95.95 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 4.14 and a beta of 0.93. Enbridge has a 1-year low of $32.85 and a 1-year high of $44.13. The firm has a fifty day moving average price of $42.37 and a two-hundred day moving average price of $40.15. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.54 billion. During the same quarter in the prior year, the firm earned $0.46 EPS. Research analysts predict that Enbridge will post 2.03 EPS for the current year.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a yield of 6.08%. Enbridge’s payout ratio is currently 124.07%.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. increased its holdings in shares of Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 246 shares during the period. Associated Banc Corp raised its holdings in shares of Enbridge by 3.6% during the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after buying an additional 248 shares during the last quarter. Hobbs Group Advisors LLC boosted its position in shares of Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after buying an additional 249 shares during the period. Centaurus Financial Inc. grew its holdings in Enbridge by 1.7% in the 3rd quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after buying an additional 256 shares in the last quarter. Finally, First PREMIER Bank increased its position in Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares during the period. 54.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ENB has been the topic of several recent analyst reports. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Company Profile

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.