Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw unusual options trading activity on Wednesday. Investors bought 20,216 put options on the company. This is a 1,036% increase from the average volume of 1,779 puts.

NYSE:ENB shares opened at $41.26 on Thursday. The stock has a market capitalization of $83.60 billion, a P/E ratio of 18.59, a P/E/G ratio of 2.87 and a beta of 0.86. The company has a fifty-day moving average price of $39.19 and a 200-day moving average price of $39.88. The company has a debt ratio of 1.14, a current ratio of 0.55 and a quick ratio of 0.46. Enbridge has a 1-year low of $33.41 and a 1-year high of $43.35.

Enbridge Inc (NYSE:ENB) (TSE:ENB) last released its results on Friday, November 5. The pipeline company reported EPS of $0.47 for the quarter, beating Thomson Reuters consensus estimate of $0.46 by $0.01. Enbridge had a net margin of 13.47% and a return on equity of 9.76%. The company posted revenue of $9.11 billion in the quarter, versus $9.68 billion expected by analysts. In the same quarter last year, the company achieved EPS of $0.36. Sell-side analysts expect Enbridge to post EPS of 2.23 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 1. Shareholders of record on Tuesday, February 15 will receive a dividend of $0.673. This represents an annualized dividend of $2.69 and a dividend yield of 6.52%. The ex-dividend date is Monday, February 14. Enbridge’s dividend payout ratio (DPR) is currently 120.27%.

Several hedge funds have recently increased or reduced their holdings in ENB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Enbridge shares by 166.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,499,422 shares of the pipeline company worth $180,113,000 after acquiring 2,808,873 additional shares during the period. BlackRock Inc. increased its stake in Enbridge shares by 6.0% in the 2nd quarter. BlackRock Inc. now owns 1,048,086 shares of the pipeline company worth $41,965,000 after acquiring an additional 59,055 shares during the period. Strategic Blueprint LLC bought a new position in Enbridge stock in Q2 valued at around $94,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Enbridge stock in Q2 valued at around $9,517,000. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in Enbridge stock in Q2 valued at around $372,000. Institutional investors hold 48.35% of the company’s shares.

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A number of equity research analysts have commented on ENB’s stock. CIBC raised its price target on Enbridge shares from C$55.00 to C$57.00 in a Tuesday, January 11 research report. Raymond James assumed coverage of Enbridge shares in a report on Wednesday, Dec. 22. They issued a “market performance” rating for the company. Morgan Stanley cut Enbridge shares from an “overweight” rating to an “equal weight” rating and set a target price of $60.00 for the company. in a report on Friday, January 7. Royal Bank of Canada lowered its target price on Enbridge shares from C$61.00 to C$60.00 and set an “outperform” rating for the company in a report released Monday, Nov. 29. Finally, Credit Suisse Group downgraded Enbridge shares from an “outperform” rating to a “neutral” rating and set a target price of $56.00 for the company. in a report on Monday, October 25. Six equity research analysts gave the stock a hold rating and ten gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $53.53.

Enbridge Company Profile

Enbridge, Inc engages in the supply of oil and gas businesses. It operates through the following segments: Liquids Pipelines, Gas Distribution and Storage, Gas Transmission and Midstream, Renewable Power Generation and Energy Services. The Liquids Pipelines segment includes common carriers and crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the United States, including the Canadian Mainline, Regional Oil Sands System, Southern Pipeline Lights, Spearhead Pipeline, Seaway Crude Pipeline and other interests. supply lines.

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