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

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

Analyst Upgrades and Downgrades

ENB has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Morgan Stanley initiated coverage on shares of Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating on the stock. Finally, TD Securities initiated coverage on shares of Enbridge in a report on Wednesday, January 15th. They issued a "buy" rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Enbridge has a consensus rating of "Hold" and an average price target of $63.00.

Institutional Trading of Enbridge

Several institutional investors and hedge funds have recently bought and sold shares of the business. McIlrath & Eck LLC raised its holdings 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 purchasing an additional 295 shares during the last quarter. Albion Financial Group UT acquired a new stake in Enbridge during the 4th quarter worth about $29,000. Grove Bank & Trust raised its stake in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after buying an additional 279 shares during the last quarter. MFA Wealth Advisors LLC lifted its holdings in shares of 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 buying an additional 280 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in Enbridge in the 3rd quarter worth approximately $35,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

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Enbridge Stock Performance

Shares of ENB stock traded up $0.31 during mid-day trading on Friday, reaching $44.51. The stock had a trading volume of 2,561,208 shares, compared to its average volume of 4,078,409. Enbridge has a 1-year low of $32.85 and a 1-year high of $45.78. The firm has a market cap of $96.96 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 4.08 and a beta of 0.94. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The business's fifty day moving average is $43.20 and its 200-day moving average is $41.45.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date is Friday, February 14th. Enbridge's dividend payout ratio is presently 124.07%.

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.