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

Enbridge Inc. (NYSE:ENB - Get Free Report) TSE: ENB was the target of unusually large options trading on Wednesday. Stock investors acquired 20,216 put options on the company. This represents an increase of 1,036% compared to the average daily volume of 1,779 put options.

Enbridge Stock Down 0.6 %

NYSE:ENB traded down $0.25 during trading hours on Friday, hitting $41.74. 6,521,927 shares of the company traded hands, compared to its average volume of 4,245,049. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.50. The firm's 50-day simple moving average is $43.35 and its 200-day simple moving average is $41.87. Enbridge has a one year low of $32.85 and a one year high of $45.78. The company has a market cap of $90.94 billion, a PE ratio of 24.26, a PEG ratio of 3.92 and a beta of 0.94.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its earnings results on Friday, February 14th. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period in the prior year, the company posted $0.64 earnings per share. Equities analysts predict that Enbridge will post 2.14 earnings per share for the current year.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.42%. The ex-dividend date is Friday, February 14th. Enbridge's payout ratio is 155.81%.

Institutional Trading of Enbridge

Large investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its stake in shares of Enbridge by 3.2% during the 3rd quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company's stock worth $267,935,000 after purchasing an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company's stock worth $52,648,000 after acquiring an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. increased its holdings in Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company's stock worth $52,880,000 after acquiring an additional 319,907 shares during the last quarter. Sound Income Strategies LLC raised its stake in Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company's stock valued at $26,808,000 after acquiring an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its holdings in Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company's stock valued at $7,650,000 after purchasing an additional 15,207 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ENB. Royal Bank of Canada boosted their target price on shares of Enbridge from $63.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday. 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. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $67.00.

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.