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

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of some unusual options trading on Wednesday. Stock investors purchased 20,216 put options on the stock. This represents an increase of 1,036% compared to the typical volume of 1,779 put options.

Enbridge Stock Up 1.1 %

Shares of ENB stock traded up $0.47 during trading on Thursday, reaching $42.96. The company’s stock had a trading volume of 967,616 shares, compared to its average volume of 4,855,117. The company has a market cap of $93.55 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 4.10 and a beta of 0.93. Enbridge has a one year low of $32.76 and a one year high of $43.00. The business has a fifty day moving average price of $41.06 and a 200-day moving average price of $38.35. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the business posted $0.46 EPS. Analysts anticipate that Enbridge will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.29%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s dividend payout ratio (DPR) is currently 122.22%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ENB. Morgan Stanley assumed coverage on shares of Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Hedge Funds Weigh In On Enbridge

A number of hedge funds have recently bought and sold shares of ENB. TruNorth Capital Management LLC acquired a new stake in shares of Enbridge in the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge in the 2nd quarter valued at approximately $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the 1st quarter worth approximately $29,000. Grove Bank & Trust increased its stake in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the last quarter. Finally, MFA Wealth Advisors LLC increased its stake 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 purchasing an additional 280 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

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.