Enbridge Sees Unusually Large Options Volume (NYSE:ENB)

Key Points

• Enbridge Inc (NYSE:ENB) experienced an **increase of approximately 1,036%** in put options trading, with investors purchasing **20,216 put options** on Wednesday compared to an average of 1,779.
• The company recently **increased its quarterly dividend** to **$0.6839**, reflecting a **$2.74 annualized dividend** and a yield of **5.8%**, with a dividend payout ratio of **133.99%**.
• Recent analyst ratings are mixed, with **five giving a "buy" rating** and **five a "hold"**, resulting in a consensus rating of **"Moderate Buy"** and an average price target of **$67.00**.

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB saw unusually large options trading on Wednesday. Stock investors purchased 20,216 put options on the company. Thisrepresentsanincreaseofapproximately1,036% compared to the average volume of 1,779 put options.

Enbridge Trading Up 0.6%

NYSE ENB opened at $47.02 on Thursday. The stock's 50-day simple moving average is $45.44 and its two-hundred day simple moving average is $44.60. Enbridge has a twelve month low of $38.21 and a twelve month high of $47.44. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $102.52 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 4.33 and a beta of 0.79.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, August 1st. The pipeline company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.06. The business had revenue of $7.14 billion for the quarter, compared to the consensus estimate of $10.56 billion. Enbridge had a return on equity of 10.77% and a net margin of 10.11%. During the same quarter last year, the business posted $0.58 earnings per share. Research analysts forecast that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 15th will be issued a $0.6839 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, August 15th. Enbridge's dividend payout ratio (DPR) is presently 133.99%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. AGF Management Ltd. increased its holdings in shares of Enbridge by 21.8% in the second quarter. AGF Management Ltd. now owns 3,549,041 shares of the pipeline company's stock worth $174,935,000 after buying an additional 635,341 shares during the period. Stokes Family Office LLC grew its stake in shares of Enbridge by 6.4% in the second quarter. Stokes Family Office LLC now owns 6,775 shares of the pipeline company's stock worth $307,000 after purchasing an additional 407 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Enbridge by 17.8% in the second quarter. Metis Global Partners LLC now owns 227,846 shares of the pipeline company's stock worth $10,332,000 after purchasing an additional 34,424 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of Enbridge by 3.4% in the second quarter. Wedbush Securities Inc. now owns 36,549 shares of the pipeline company's stock worth $1,656,000 after purchasing an additional 1,186 shares during the last quarter. Finally, Harvest Portfolios Group Inc. grew its stake in shares of Enbridge by 10.8% in the second quarter. Harvest Portfolios Group Inc. now owns 287,006 shares of the pipeline company's stock worth $13,015,000 after purchasing an additional 27,961 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company's stock.

Analyst Upgrades and Downgrades

ENB has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Enbridge from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $67.00 price objective on shares of Enbridge in a research report on Monday, May 12th. BMO Capital Markets reiterated a "market perform" rating on shares of Enbridge in a research report on Monday, May 12th. Jefferies Financial Group upgraded Enbridge from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Finally, National Bankshares restated a "sector perform" rating on shares of Enbridge in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

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.

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