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. Investors purchased 20,216 put options on the company. This is an increase of approximately 1,036% compared to the average volume of 1,779 put options.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ENB shares. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock.

Institutional Investors Weigh In On Enbridge

Several hedge funds have recently bought and sold shares of the company. McIlrath & Eck LLC raised its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares during the period. Grove Bank & Trust increased its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the last quarter. MFA Wealth Advisors LLC raised its stake in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the period. TruNorth Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter valued at $28,000. Finally, William B. Walkup & Associates Inc. bought a new position in Enbridge during the second quarter worth $28,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.5 %

ENB stock opened at $42.90 on Thursday. The company has a market cap of $93.44 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 4.18 and a beta of 0.93. Enbridge has a twelve month low of $32.85 and a twelve month high of $43.70. The business has a 50 day moving average price of $41.52 and a two-hundred day moving average price of $38.79. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.54 billion. During the same period last year, the business earned $0.46 earnings per share. Analysts anticipate that Enbridge will post 2.06 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.70 annualized dividend and a dividend yield of 6.30%. Enbridge’s payout ratio is currently 121.76%.

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.