Enbridge Target of Unusually High Options Trading (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of some unusual options trading on Wednesday. Investors bought 20,216 put options on the company. This is an increase of approximately 1,036% compared to the average daily volume of 1,779 put options.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ENB. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Morgan Stanley began coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Up 0.2 %

Enbridge stock opened at $41.87 on Thursday. The firm has a market capitalization of $91.20 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 4.18 and a beta of 0.94. The firm has a 50 day simple moving average of $42.06 and a 200 day simple moving average of $39.60. Enbridge has a 1-year low of $32.85 and a 1-year high of $44.13. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion for the quarter, compared to analyst estimates of $4.54 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the company posted $0.46 EPS. On average, analysts predict that Enbridge will post 2.03 earnings per share for the current year.

Enbridge Cuts Dividend

The company 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. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.40%. Enbridge’s dividend payout ratio is currently 124.07%.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge during the 2nd quarter valued at about $28,000. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% during the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Grove Bank & Trust grew its position in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC increased its stake in Enbridge by 55.6% in the third 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 last quarter. Finally, Fortitude Family Office LLC bought a new stake in Enbridge during the third quarter worth about $35,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

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.