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

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw some unusual options trading activity on Wednesday. Investors purchased 20,216 put options on the stock. This is an increase of 1,036% compared to the typical volume of 1,779 put options.

Hedge Funds Weigh In On Enbridge

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. apricus wealth LLC increased its position in shares of Enbridge by 1.1% in the fourth quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company’s stock valued at $875,000 after acquiring an additional 220 shares during the period. Cornerstone Wealth Management LLC grew its holdings in Enbridge by 0.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company’s stock worth $1,252,000 after purchasing an additional 227 shares during the period. Armstrong Advisory Group Inc. increased its holdings in shares of Enbridge by 3.2% during the fourth quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 230 shares in the last quarter. Eagle Bay Advisors LLC boosted its stake in Enbridge by 10.6% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company’s stock valued at $106,000 after purchasing an additional 240 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in Enbridge by 3.6% in the 4th quarter. Flagship Harbor Advisors LLC now owns 6,994 shares of the pipeline company’s stock worth $297,000 after buying an additional 242 shares during the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on ENB shares. TD Securities began coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Up 0.7 %

ENB stock opened at $44.23 on Friday. The firm has a 50-day moving average price of $43.15 and a 200-day moving average price of $41.34. The stock has a market capitalization of $96.34 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. Enbridge has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.06%. Enbridge’s payout ratio is 121.76%.

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.