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

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the target of unusually large options trading on Wednesday. Traders purchased 20,216 put options on the company. This is an increase of approximately 1,036% compared to the typical daily volume of 1,779 put options.

Enbridge Stock Performance

NYSE:ENB traded down $0.91 during trading hours on Friday, hitting $42.18. 5,555,274 shares of the company were exchanged, compared to its average volume of 4,879,259. The company’s 50 day moving average price is $41.11 and its 200-day moving average price is $38.39. The stock has a market capitalization of $91.86 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 4.13 and a beta of 0.93. Enbridge has a 52-week low of $32.76 and a 52-week high of $43.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the prior year, the firm earned $0.46 EPS. As a group, research analysts forecast that Enbridge will post 2.06 earnings per share for the current year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be paid a $0.676 dividend. This represents a $2.70 annualized dividend and a dividend yield of 6.41%. This is a boost from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is presently 122.22%.

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock valued at $3,049,268,000 after acquiring an additional 1,227,031 shares during the period. 1832 Asset Management L.P. grew its position in Enbridge by 3.9% during the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock worth $1,325,982,000 after purchasing an additional 1,360,439 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Enbridge by 12.8% in the 2nd quarter. Cibc World Market Inc. now owns 32,531,675 shares of the pipeline company’s stock valued at $1,157,802,000 after buying an additional 3,693,495 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Enbridge by 3.7% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 23,083,951 shares of the pipeline company’s stock worth $821,331,000 after acquiring an additional 827,540 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.