Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of some unusual options trading activity on Wednesday. Traders acquired 20,216 put options on the stock. This is an increase of approximately 1,036% compared to the typical volume of 1,779 put options.

Enbridge Trading Down 0.4 %

Shares of NYSE ENB opened at $46.51 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $101.38 billion, a PE ratio of 27.04, a PEG ratio of 3.92 and a beta of 0.80. Enbridge has a twelve month low of $34.60 and a twelve month high of $47.08. The stock has a fifty day simple moving average of $43.71 and a 200-day simple moving average of $43.10.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts forecast that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be given a $0.679 dividend. This represents a $2.72 annualized dividend and a yield of 5.84%. The ex-dividend date is Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 157.56%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Citigroup began coverage on Enbridge in a report on Friday, April 4th. They set a “buy” rating for the company. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Raymond James raised shares of Enbridge to a “moderate buy” rating in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge has an average rating of “Moderate Buy” and an average price target of $67.00.

Institutional Trading of Enbridge

A number of large investors have recently modified their holdings of ENB. Garde Capital Inc. acquired a new position in Enbridge during the 1st quarter worth $26,000. McIlrath & Eck LLC grew 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 buying an additional 295 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Enbridge during the first quarter worth approximately $28,000. Albion Financial Group UT acquired a new stake in Enbridge in the fourth quarter valued at approximately $29,000. Finally, Wintrust Investments LLC lifted its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 238 shares during the last quarter. Hedge funds and other 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.