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

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ENB. Royal Bank Of Canada lifted their price target on shares of Enbridge from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Weiss Ratings upgraded Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. National Bankshares restated a “sector perform” rating on shares of Enbridge in a report on Monday, November 10th. Scotiabank upgraded Enbridge from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 16th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Institutional Investors Weigh In On Enbridge

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IHT Wealth Management LLC increased its position in shares of Enbridge by 1.2% in the second quarter. IHT Wealth Management LLC now owns 18,084 shares of the pipeline company’s stock valued at $820,000 after acquiring an additional 213 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in Enbridge by 1.8% in the third quarter. HBK Sorce Advisory LLC now owns 12,424 shares of the pipeline company’s stock valued at $609,000 after purchasing an additional 215 shares in the last quarter. Copperleaf Capital LLC grew its stake in Enbridge by 3.6% in the third quarter. Copperleaf Capital LLC now owns 6,328 shares of the pipeline company’s stock valued at $319,000 after purchasing an additional 217 shares in the last quarter. South Plains Financial Inc. increased its position in shares of Enbridge by 13.2% during the 2nd quarter. South Plains Financial Inc. now owns 1,887 shares of the pipeline company’s stock worth $85,000 after purchasing an additional 220 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Enbridge by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 18,217 shares of the pipeline company’s stock worth $826,000 after purchasing an additional 221 shares in the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Stock Up 0.3%

ENB stock opened at $47.29 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.68. The stock has a market capitalization of $103.17 billion, a P/E ratio of 25.98 and a beta of 0.68. Enbridge has a fifty-two week low of $39.73 and a fifty-two week high of $50.54. The business has a 50-day moving average of $47.40 and a 200-day moving average of $47.39.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, November 7th. The pipeline company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). Enbridge had a net margin of 9.20% and a return on equity of 10.51%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, sell-side analysts anticipate that Enbridge will post 2.14 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a dividend of $0.97 per share. The ex-dividend date is Tuesday, February 17th. This is a positive change from Enbridge’s previous quarterly dividend of $0.94. This represents a $3.88 annualized dividend and a yield of 8.2%. Enbridge’s dividend payout ratio is currently 147.80%.

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.