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

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

Enbridge Stock Up 0.1 %

ENB opened at $40.45 on Friday. The company has a fifty day moving average of $37.71 and a two-hundred day moving average of $36.33. The stock has a market capitalization of $86.32 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 3.90 and a beta of 0.92. Enbridge has a fifty-two week low of $31.03 and a fifty-two week high of $40.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, research analysts expect that Enbridge will post 2.06 earnings per share for the current year.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were paid a $0.669 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.68 dividend on an annualized basis and a yield of 6.62%. Enbridge’s dividend payout ratio is currently 134.01%.

Hedge Funds Weigh In On Enbridge

A number of large investors have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC acquired a new position in shares of Enbridge during the second quarter valued at approximately $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter worth $28,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Enbridge during the first quarter worth $29,000. Richardson Financial Services Inc. acquired a new stake in shares of Enbridge in the first quarter valued at about $31,000. Finally, PFS Partners LLC grew its position in shares of Enbridge by 95.8% in the first quarter. PFS Partners LLC now owns 922 shares of the pipeline company’s stock valued at $33,000 after purchasing an additional 451 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Company Profile

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.