Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Enbridge Inc. (NYSE:ENBGet Rating) (TSE:ENB) saw unusually large options trading activity on Wednesday. Investors purchased 20,216 put options on the company. This represents an increase of 1,036% compared to the average volume of 1,779 put options.

NYSE ENB opened at $45.95 on Thursday. The firm has a 50-day moving average of $45.25 and a 200-day moving average of $42.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.68. The stock has a market cap of $93.11 billion, a PE ratio of 20.07, a P/E/G ratio of 3.24 and a beta of 0.77. Enbridge has a 52-week low of $36.21 and a 52-week high of $47.42.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last posted its earnings results on Friday, May 6th. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.01). The company had revenue of $11.92 billion for the quarter, compared to analyst estimates of $8.76 billion. Enbridge had a return on equity of 10.40% and a net margin of 12.20%. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, analysts predict that Enbridge will post 2.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend was Thursday, May 12th. Enbridge’s dividend payout ratio is 116.16%.

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Enbridge in a research note on Thursday, March 31st. They set a “hold” rating for the company. Scotiabank increased their price objective on shares of Enbridge from C$58.00 to C$62.00 in a research report on Tuesday, April 19th. TD Securities increased their price objective on shares of Enbridge from C$61.00 to C$62.00 in a research report on Monday, May 9th. Raymond James increased their target price on shares of Enbridge from C$53.00 to C$54.50 and gave the stock a “market perform” rating in a report on Monday, February 14th. Finally, National Bank Financial increased their target price on shares of Enbridge from C$57.00 to C$60.00 in a report on Monday, May 9th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Hold” and a consensus target price of $56.32.

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in Enbridge by 18.7% in the 3rd quarter. American Century Companies Inc. now owns 43,851 shares of the pipeline company’s stock valued at $1,747,000 after buying an additional 6,900 shares during the period. Equitable Holdings Inc. increased its holdings in Enbridge by 12.2% in the 3rd quarter. Equitable Holdings Inc. now owns 11,496 shares of the pipeline company’s stock valued at $458,000 after buying an additional 1,253 shares during the period. Clearstead Advisors LLC increased its holdings in Enbridge by 37.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,838 shares of the pipeline company’s stock valued at $73,000 after buying an additional 500 shares during the period. Ameritas Investment Company LLC increased its holdings in Enbridge by 80.8% in the 3rd quarter. Ameritas Investment Company LLC now owns 6,807 shares of the pipeline company’s stock valued at $271,000 after buying an additional 3,043 shares during the period. Finally, Trek Financial LLC increased its holdings in Enbridge by 15.0% in the 3rd quarter. Trek Financial LLC now owns 17,316 shares of the pipeline company’s stock valued at $689,000 after buying an additional 2,257 shares during the period. 53.23% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Company Profile (Get Rating)

Enbridge Inc 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.

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