Traders Purchase 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. Traders bought 20,216 put options on the company. This represents an increase of 1,036% compared to the average volume of 1,779 put options.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ENB shares. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $63.00 price objective (up from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

Shares of NYSE:ENB opened at $43.96 on Thursday. The firm has a 50 day moving average of $43.13 and a 200 day moving average of $41.32. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $95.76 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. Enbridge has a 52 week low of $32.85 and a 52 week high of $45.78.

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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is currently 124.07%.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently added to or reduced their stakes in ENB. McIlrath & Eck LLC increased its position in shares of Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT acquired a new position in Enbridge during the 4th quarter valued at about $29,000. Grove Bank & Trust raised its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC boosted its holdings in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new stake in shares of Enbridge during the third quarter worth about $35,000. Institutional investors own 54.60% of the company’s stock.

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.