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

Key Points

• Enbridge Inc saw a significant surge in put options trading, with investors purchasing 20,216 contracts, marking an increase of approximately 1,036% from the typical volume.
• The company recently increased its quarterly dividend to $0.6839 per share, translating to an annualized dividend of $2.74 and a yield of 5.7%.
• Equities analysts have a consensus rating of "Moderate Buy" for Enbridge, with a target price of $60.50, reflecting positive sentiment regarding the company's performance.

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB saw unusually large options trading on Wednesday. Stock traders acquired 20,216 put options on the company. Thisisanincreaseofapproximately1,036% compared to the average volume of 1,779 put options.

Enbridge Trading Up 0.3%

ENB traded up $0.13 during mid-day trading on Friday, hitting $48.29. 2,667,837 shares of the stock were exchanged, compared to its average volume of 3,701,650. The firm's fifty day moving average is $46.28 and its two-hundred day moving average is $45.12. Enbridge has a 1-year low of $39.73 and a 1-year high of $48.59. The company has a current ratio of 0.75, a quick ratio of 0.65 and a debt-to-equity ratio of 1.58. The company has a market cap of $105.29 billion, a PE ratio of 23.79, a PEG ratio of 4.40 and a beta of 0.80.

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

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 15th were paid a dividend of $0.6839 per share. This represents a $2.74 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.68. Enbridge's dividend payout ratio is currently 134.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. National Bankshares reissued a "sector perform" rating on shares of Enbridge in a research note on Tuesday, August 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $67.00 price objective on shares of Enbridge in a research note on Monday, May 12th. Argus boosted their price objective on Enbridge from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Wall Street Zen lowered Enbridge from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

Hedge Funds Weigh In On Enbridge

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Enbridge by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 96,404,986 shares of the pipeline company's stock worth $4,371,580,000 after acquiring an additional 3,217,961 shares in the last quarter. GQG Partners LLC increased its holdings in Enbridge by 1.5% during the 1st quarter. GQG Partners LLC now owns 75,439,320 shares of the pipeline company's stock worth $3,338,405,000 after purchasing an additional 1,148,580 shares during the period. TD Asset Management Inc increased its holdings in Enbridge by 1.6% during the 2nd quarter. TD Asset Management Inc now owns 39,883,394 shares of the pipeline company's stock worth $1,804,913,000 after purchasing an additional 617,577 shares during the period. Deutsche Bank AG increased its holdings in Enbridge by 13.9% during the 4th quarter. Deutsche Bank AG now owns 36,336,212 shares of the pipeline company's stock worth $1,541,745,000 after purchasing an additional 4,426,684 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Enbridge by 137.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 32,907,433 shares of the pipeline company's stock worth $1,458,128,000 after purchasing an additional 19,074,827 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

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.