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

view original post

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

Several large investors have recently bought and sold shares of ENB. GQG Partners LLC raised its position in Enbridge by 389.4% during the first quarter. GQG Partners LLC now owns 47,579,706 shares of the pipeline company’s stock valued at $2,191,962,000 after purchasing an additional 37,857,799 shares during the period. Norges Bank bought a new stake in Enbridge during the 4th quarter valued at $676,148,000. Cook Street Consulting Inc. purchased a new stake in shares of Enbridge during the 4th quarter valued at $348,749,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Enbridge by 40.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 19,961,512 shares of the pipeline company’s stock valued at $920,387,000 after purchasing an additional 5,794,908 shares during the last quarter. Finally, Brookfield Asset Management Inc. lifted its holdings in shares of Enbridge by 167.0% during the 3rd quarter. Brookfield Asset Management Inc. now owns 8,913,847 shares of the pipeline company’s stock valued at $125,175,000 after purchasing an additional 5,575,344 shares during the last quarter. Institutional investors own 53.23% of the company’s stock.

ENB opened at $42.68 on Thursday. The stock has a market cap of $86.49 billion, a PE ratio of 18.64, a PEG ratio of 3.19 and a beta of 0.77. The company has a quick ratio of 0.60, a current ratio of 0.68 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average of $45.16 and a 200-day moving average of $42.86. Enbridge has a 52 week low of $36.21 and a 52 week high of $47.67.

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) last posted its quarterly earnings results on Friday, May 6th. The pipeline company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). Enbridge had a return on equity of 10.40% and a net margin of 12.20%. The business had revenue of $11.92 billion during the quarter, compared to analysts’ expectations of $8.76 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. Equities analysts anticipate that Enbridge will post 2.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a $0.669 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date of this dividend was Thursday, May 12th. Enbridge’s dividend payout ratio (DPR) is 116.16%.

A number of equities research analysts have recently commented on ENB shares. Royal Bank of Canada raised their price target on Enbridge from C$60.00 to C$65.00 in a research report on Monday, May 9th. Morgan Stanley raised their price target on Enbridge from C$60.00 to C$67.00 in a research note on Tuesday, April 26th. StockNews.com initiated coverage on shares of Enbridge in a report on Thursday, March 31st. They set a “hold” rating for the company. Scotiabank lifted their target price on Enbridge from C$58.00 to C$62.00 in a report on Tuesday, April 19th. Finally, TD Securities lifted their target price on Enbridge from C$61.00 to C$62.00 in a report on Monday, May 9th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $57.42.

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.

Featured Articles

Want More Great Investing Ideas?

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.