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

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

Enbridge Price Performance

NYSE:ENB traded down $0.29 on Thursday, hitting $42.05. The company had a trading volume of 4,256,419 shares, compared to its average volume of 4,881,373. The firm has a 50 day moving average of $41.97 and a two-hundred day moving average of $39.24. The stock has a market capitalization of $91.59 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 4.26 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. Enbridge has a 52 week low of $32.85 and a 52 week high of $44.13.

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

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.37%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio (DPR) is currently 124.07%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ENB. TruNorth Capital Management LLC bought a new position in Enbridge during the 2nd quarter worth approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge during the second quarter worth $28,000. McIlrath & Eck LLC raised its stake in 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 buying an additional 295 shares during the last quarter. Grove Bank & Trust raised its stake in Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock worth $31,000 after buying an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC lifted its holdings 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 buying an additional 280 shares during the period. 54.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

ENB has been the topic of several analyst reports. 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. Wells Fargo & Company raised Enbridge from an "underweight" rating to an "equal weight" rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued an "outperform" rating and set a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Enbridge presently has an average rating of "Hold" and a consensus price target of $63.00.

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.