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

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ENB shares. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Down 0.7 %

NYSE ENB opened at $42.05 on Friday. The stock has a 50 day moving average price of $41.97 and a 200-day moving average price of $39.24. Enbridge has a one year low of $32.85 and a one year high of $44.13. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The company has a market capitalization of $91.59 billion, a P/E ratio of 19.47, a P/E/G ratio of 4.26 and a beta of 0.94.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the business earned $0.46 earnings per share. As a group, equities analysts predict that Enbridge will post 2.03 EPS for the current fiscal year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.37%. Enbridge’s dividend payout ratio is currently 124.07%.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. increased its position in shares of Enbridge by 28.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after purchasing an additional 246 shares during the last quarter. Associated Banc Corp boosted its stake in Enbridge by 3.6% during the third quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock worth $288,000 after buying an additional 248 shares during the period. Hobbs Group Advisors LLC increased its position in Enbridge by 15.1% during the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock valued at $77,000 after acquiring an additional 249 shares during the last quarter. Centaurus Financial Inc. raised its stake in shares of Enbridge by 1.7% in the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock valued at $608,000 after acquiring an additional 256 shares during the period. Finally, First PREMIER Bank lifted its holdings in shares of Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock worth $631,000 after acquiring an additional 257 shares during the last quarter. 54.60% of the stock is currently 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.