Stock Traders Buy Large Volume of Enbridge Put Options (NYSE:ENB)

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

Enbridge Price Performance

Shares of Enbridge stock traded down $0.13 during trading on Thursday, reaching $40.39. 3,552,487 shares of the stock traded hands, compared to its average volume of 5,231,324. Enbridge has a 52-week low of $31.03 and a 52-week high of $41.22. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. The business has a fifty day simple moving average of $38.70 and a two-hundred day simple moving average of $36.75. The company has a market capitalization of $86.19 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 3.91 and a beta of 0.94.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the firm posted $0.51 earnings per share. Sell-side analysts expect that Enbridge will post 2.06 EPS for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were issued a dividend of $0.669 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.68 annualized dividend and a yield of 6.63%. Enbridge's payout ratio is presently 134.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. TruNorth Capital Management LLC bought a new stake in shares of Enbridge during the second quarter worth $28,000. William B. Walkup & Associates Inc. bought a new stake in Enbridge during the 2nd quarter valued at about $28,000. Ameritas Investment Partners Inc. purchased a new stake in Enbridge in the 1st quarter valued at about $29,000. Richardson Financial Services Inc. bought a new position in Enbridge in the 1st quarter worth about $31,000. Finally, PFS Partners LLC increased its position in shares of Enbridge by 95.8% during the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company's stock worth $33,000 after acquiring an additional 451 shares during the period. 54.60% of the stock is owned by hedge funds and other institutional investors.

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.