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.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in Enbridge by 34.0% during the 4th quarter. Jones Financial Companies Lllp now owns 30,656 shares of the pipeline company’s stock worth $1,104,000 after purchasing an additional 7,776 shares during the last quarter. Eisler Capital UK Ltd. raised its position in Enbridge by 607.1% during the 4th quarter. Eisler Capital UK Ltd. now owns 19,614 shares of the pipeline company’s stock worth $706,000 after purchasing an additional 23,482 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Enbridge by 0.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 139,154 shares of the pipeline company’s stock worth $5,012,000 after purchasing an additional 1,105 shares during the last quarter. Morningstar Investment Services LLC raised its position in Enbridge by 129.6% during the 4th quarter. Morningstar Investment Services LLC now owns 3,631,712 shares of the pipeline company’s stock worth $131,032,000 after purchasing an additional 2,049,712 shares during the last quarter. Finally, Angeles Investment Advisors LLC bought a new position in Enbridge during the 4th quarter worth $206,000. 54.60% of the stock is currently owned by institutional investors.

Enbridge Stock Down 0.2 %

Shares of ENB opened at $41.05 on Thursday. Enbridge has a 52 week low of $31.03 and a 52 week high of $41.35. The stock has a market capitalization of $87.60 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 3.93 and a beta of 0.94. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The stock has a fifty day moving average of $39.52 and a 200-day moving average of $37.09.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the company earned $0.51 EPS. As a group, sell-side analysts anticipate that Enbridge will post 2.08 earnings per share for the current fiscal year.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Thursday, August 15th. Enbridge’s payout ratio is 134.01%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.50.

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.