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

by · The Markets Daily

Enbridge Inc (NYSE:ENBGet Free Report) (TSE:ENB) saw some unusual options trading activity on Wednesday. Investors purchased 20,216 put options on the stock. This is an increase of 1,036% compared to the typical daily volume of 1,779 put options.

Institutional Trading of Enbridge

Institutional investors and hedge funds have recently modified their holdings of the company. Brighton Jones LLC acquired a new position in Enbridge during the 4th quarter worth $261,000. Nuveen LLC bought a new position in shares of Enbridge in the first quarter worth about $208,490,000. Linscomb Wealth Inc. lifted its position in shares of Enbridge by 17.1% during the 1st quarter. Linscomb Wealth Inc. now owns 12,013 shares of the pipeline company’s stock worth $532,000 after purchasing an additional 1,758 shares during the last quarter. Independent Advisor Alliance lifted its position in shares of Enbridge by 9.3% during the 1st quarter. Independent Advisor Alliance now owns 97,825 shares of the pipeline company’s stock worth $4,335,000 after purchasing an additional 8,345 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Enbridge by 0.6% during the 1st quarter. Public Sector Pension Investment Board now owns 210,354 shares of the pipeline company’s stock valued at $9,309,000 after purchasing an additional 1,300 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Up 0.4%

ENB opened at $47.37 on Friday. The company has a market capitalization of $103.33 billion, a PE ratio of 26.03 and a beta of 0.68. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. Enbridge has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The business has a 50-day moving average of $47.79 and a 200-day moving average of $47.12.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last announced its quarterly earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same period in the previous year, the firm posted $0.55 EPS. Equities research analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a $0.97 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. This represents a $3.88 annualized dividend and a yield of 8.2%. Enbridge’s dividend payout ratio is presently 147.80%.

Analyst Ratings Changes

ENB has been the subject of several recent analyst reports. Wall Street Zen cut Enbridge from a “hold” rating to a “sell” rating in a research report on Sunday, September 21st. CIBC downgraded Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 9th. Royal Bank Of Canada raised their price objective on Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Zacks Research downgraded Enbridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Enbridge in a research report on Monday. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

View Our Latest Research Report on ENB

Enbridge Company Profile

(Get Free Report)

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.

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