Traders Buy Large Volume of Put Options on Enbridge (NYSE:ENB)

Enbridge Inc (NYSE:ENB - Get Free Report) TSE: ENB was the recipient of unusually large options trading on Wednesday. Stock traders bought 20,216 put options on the company. This is an increase of 1,036% compared to the typical daily volume of 1,779 put options.

Enbridge Stock Down 0.9%

ENB opened at $43.81 on Thursday. The company has a market capitalization of $95.52 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The firm has a 50-day simple moving average of $45.58 and a two-hundred day simple moving average of $44.29. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 1.51. Enbridge has a 52 week low of $35.34 and a 52 week high of $47.44.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $7.27 billion during the quarter, compared to analysts' expectations of $10.20 billion. Enbridge had a return on equity of 10.41% and a net margin of 10.16%. During the same quarter last year, the business posted $0.92 EPS. Analysts forecast that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Thursday, May 15th were issued a $0.679 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.67. The ex-dividend date was Thursday, May 15th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 6.20%. Enbridge's dividend payout ratio (DPR) is presently 140.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ENB shares. Raymond James Financial raised Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. National Bankshares restated a "sector perform" rating on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Finally, Citigroup began coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $67.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Capital Investment Counsel Inc increased its position in Enbridge by 3.1% during the first quarter. Capital Investment Counsel Inc now owns 7,527 shares of the pipeline company's stock valued at $333,000 after acquiring an additional 223 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in Enbridge by 0.7% in the first quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 34,326 shares of the pipeline company's stock worth $1,526,000 after purchasing an additional 226 shares during the period. Wintrust Investments LLC increased its stake in Enbridge by 47.8% in the fourth quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after purchasing an additional 238 shares during the period. Loudon Investment Management LLC increased its stake in Enbridge by 1.1% in the first quarter. Loudon Investment Management LLC now owns 21,201 shares of the pipeline company's stock worth $939,000 after purchasing an additional 240 shares during the period. Finally, Key Client Fiduciary Advisors LLC increased its stake in Enbridge by 1.7% in the second quarter. Key Client Fiduciary Advisors LLC now owns 14,606 shares of the pipeline company's stock worth $662,000 after purchasing an additional 242 shares during the period. 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.

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