Enbridge Sees Unusually Large Options Volume (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 is an increase of approximately 1,036% compared to the typical daily volume of 1,779 put options.

Analysts Set New Price Targets

A number of research analysts have recently commented on ENB shares. Citigroup started coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating for the company. Raymond James upgraded Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research note on Monday. National Bankshares reiterated a “sector perform” rating on shares of Enbridge in a research note on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $67.00 price target on shares of Enbridge in a research note on Monday. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.00.

Enbridge Stock Up 0.1%

Shares of NYSE:ENB opened at $44.90 on Friday. The firm has a market cap of $97.88 billion, a P/E ratio of 26.10, a P/E/G ratio of 3.92 and a beta of 0.84. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. Enbridge has a 12-month low of $34.60 and a 12-month high of $47.08. The business has a fifty day simple moving average of $44.44 and a 200 day simple moving average of $43.40.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the company earned $0.92 EPS. Analysts predict that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be given a $0.679 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.05%. Enbridge’s dividend payout ratio (DPR) is 139.69%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Metis Global Partners LLC raised its position in shares of Enbridge by 4.0% in the 4th quarter. Metis Global Partners LLC now owns 206,921 shares of the pipeline company’s stock worth $8,782,000 after acquiring an additional 7,986 shares in the last quarter. Aviso Financial Inc. raised its position in shares of Enbridge by 4.3% in the 4th quarter. Aviso Financial Inc. now owns 1,417,584 shares of the pipeline company’s stock worth $60,152,000 after acquiring an additional 58,176 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Enbridge by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 91,617,146 shares of the pipeline company’s stock worth $3,888,507,000 after acquiring an additional 3,611,421 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock worth $26,808,000 after acquiring an additional 49,800 shares in the last quarter. Finally, Greenland Capital Management LP raised its position in shares of Enbridge by 189.1% in the 4th quarter. Greenland Capital Management LP now owns 35,410 shares of the pipeline company’s stock worth $1,502,000 after acquiring an additional 23,160 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

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.