Enbridge Sees Unusually Large Options Volume (NYSE:ENB)

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

Enbridge Price Performance

Shares of NYSE ENB opened at $35.80 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. Enbridge has a 52 week low of $31.03 and a 52 week high of $38.37. The firm has a 50-day simple moving average of $35.98 and a 200-day simple moving average of $35.63. The stock has a market capitalization of $76.38 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 3.32 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion. On average, equities analysts predict that Enbridge will post 2.13 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a $0.677 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.57%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is currently 136.04%.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently modified their holdings of the company. BOK Financial Private Wealth Inc. purchased a new position in Enbridge during the fourth quarter worth about $25,000. Baystate Wealth Management LLC boosted its stake in Enbridge by 836.4% during the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Enbridge during the fourth quarter worth about $28,000. Ameritas Investment Partners Inc. purchased a new position in Enbridge during the first quarter worth about $29,000. Finally, Richardson Financial Services Inc. purchased a new position in Enbridge during the first quarter worth about $31,000. Hedge funds and other 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.