Enbridge Sees Unusually Large Options Volume (NYSE:ENB)

Enbridge Inc (NYSE:ENB) (TSE:ENB) saw some unusual options trading activity on Wednesday. Stock traders acquired 20,216 put options on the company. This represents an increase of 1,036% compared to the typical volume of 1,779 put options.

Analysts Set New Price Targets

A number of research analysts recently commented on ENB shares. Zacks Research upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. BMO Capital Markets restated a “market perform” rating on shares of Enbridge in a research report on Tuesday. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research report on Tuesday. Finally, Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Trading Up 1.3%

Shares of ENB opened at $51.57 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.68 and a current ratio of 0.63. Enbridge has a 52-week low of $39.73 and a 52-week high of $54.19. The firm has a market cap of $112.51 billion, a price-to-earnings ratio of 22.42 and a beta of 0.69. The business’s fifty day moving average is $48.31 and its 200-day moving average is $48.14.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $17.18 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the previous year, the firm posted $0.75 earnings per share. Equities analysts anticipate that Enbridge will post 2.14 EPS for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be paid a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 7.5%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date is Tuesday, February 17th. Enbridge’s dividend payout ratio (DPR) is 120.87%.

Hedge Funds Weigh In On Enbridge

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock worth $4,802,766,000 after buying an additional 2,067,516 shares during the period. TD Asset Management Inc grew its holdings in shares of Enbridge by 0.3% during the third quarter. TD Asset Management Inc now owns 40,021,291 shares of the pipeline company’s stock worth $2,019,473,000 after purchasing an additional 137,897 shares during the last quarter. Norges Bank bought a new stake in Enbridge during the 4th quarter worth about $1,195,559,000. Geode Capital Management LLC increased its holdings in shares of Enbridge by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 21,421,826 shares of the pipeline company’s stock valued at $1,045,172,000 after purchasing an additional 1,415,995 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Enbridge by 4.6% in the 4th quarter. Legal & General Group Plc now owns 19,677,864 shares of the pipeline company’s stock worth $942,806,000 after purchasing an additional 858,323 shares during the last quarter. Institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.