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

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

Analyst Ratings Changes

Several research firms have recently commented on ENB. Royal Bank of Canada lifted their target price on Enbridge from C$60.00 to C$65.00 in a research note on Monday, May 9th. StockNews.com assumed coverage on Enbridge in a research note on Thursday, March 31st. They set a “hold” rating for the company. TD Securities lifted their price objective on Enbridge from C$61.00 to C$62.00 in a research note on Monday, May 9th. US Capital Advisors cut Enbridge from an “overweight” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley lifted their price objective on Enbridge from C$60.00 to C$67.00 in a research note on Tuesday, April 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.04.

Enbridge Stock Up 0.1 %

ENB traded up $0.03 on Thursday, hitting $44.63. 127,035 shares of the company were exchanged, compared to its average volume of 2,717,177. Enbridge has a 12 month low of $36.21 and a 12 month high of $47.67. The company has a market cap of $90.37 billion, a PE ratio of 19.34, a PEG ratio of 3.12 and a beta of 0.78. 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’s fifty day moving average is $43.51 and its 200-day moving average is $43.70.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last released its earnings results on Friday, May 6th. The pipeline company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). The company had revenue of $11.92 billion for the quarter, compared to the consensus estimate 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 previous year, the company posted $0.62 EPS. Equities research analysts predict that Enbridge will post 2.34 EPS for the current fiscal year.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Monday, August 15th will be given a dividend of $0.668 per share. This represents a $2.67 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date is Friday, August 12th. Enbridge’s dividend payout ratio (DPR) is presently 116.16%.

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. increased its position in Enbridge by 3.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 6,574 shares of the pipeline company’s stock worth $303,000 after buying an additional 236 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Enbridge by 1.8% in the first quarter. Belpointe Asset Management LLC now owns 13,703 shares of the pipeline company’s stock valued at $632,000 after purchasing an additional 237 shares during the last quarter. Wedbush Securities Inc. grew its position in shares of Enbridge by 0.4% in the first quarter. Wedbush Securities Inc. now owns 55,429 shares of the pipeline company’s stock valued at $2,555,000 after purchasing an additional 238 shares during the last quarter. Koshinski Asset Management Inc. grew its position in shares of Enbridge by 2.0% in the first quarter. Koshinski Asset Management Inc. now owns 12,562 shares of the pipeline company’s stock valued at $579,000 after purchasing an additional 245 shares during the last quarter. Finally, First City Capital Management Inc. grew its position in shares of Enbridge by 5.3% in the first quarter. First City Capital Management Inc. now owns 4,984 shares of the pipeline company’s stock valued at $230,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 53.23% of the company’s stock.

About Enbridge

(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.

See Also

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.