Enbridge Target of Unusually Large Options Trading (NYSE:ENB)

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wolfe Research lowered Enbridge from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, October 17th. Royal Bank of Canada dropped their price objective on Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Wells Fargo & Company lowered Enbridge from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. Barclays dropped their price objective on Enbridge from $54.00 to $48.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 18th. Finally, Stifel Nicolaus initiated coverage on Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.20.

Read Our Latest Report on Enbridge

Hedge Funds Weigh In On Enbridge

A number of institutional investors have recently added to or reduced their stakes in the company. Quilter Plc bought a new position in shares of Enbridge during the first quarter valued at $293,879,000. Coppell Advisory Solutions Corp. bought a new stake in Enbridge in the 4th quarter worth about $25,000. Industrial Alliance Investment Management Inc. bought a new stake in Enbridge in the 4th quarter worth about $25,000. Coppell Advisory Solutions LLC bought a new stake in Enbridge in the 2nd quarter worth about $26,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Enbridge in the 1st quarter worth about $27,000. Institutional investors own 48.29% of the company’s stock.

Enbridge Stock Performance

Shares of ENB stock opened at $34.33 on Friday. The stock has a fifty day moving average of $35.77 and a 200 day moving average of $34.68. Enbridge has a 52 week low of $31.03 and a 52 week high of $40.92. The firm has a market capitalization of $72.96 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 3.23 and a beta of 0.85. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 1.12.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.659 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.64. The ex-dividend date is Wednesday, February 14th. This represents a $2.64 dividend on an annualized basis and a yield of 7.68%. Enbridge’s dividend payout ratio is 234.23%.

About Enbridge

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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.

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