Enbridge Sees Unusually Large Options Volume (NYSE:ENB)

Posted by Defense World Staff on Jun 15th, 2023

Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 20,216 put options on the stock. This represents an increase of approximately 1,036% compared to the typical volume of 1,779 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ENB shares. Credit Suisse Group upgraded shares of Enbridge from an “underperform” rating to a “neutral” rating in a research report on Wednesday, March 29th. StockNews.com assumed coverage on Enbridge in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Enbridge currently has a consensus rating of “Hold” and an average price target of $57.50.

Enbridge Stock Down 1.8 %

ENB stock opened at $36.85 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.59 and a debt-to-equity ratio of 1.23. Enbridge has a 52 week low of $35.02 and a 52 week high of $45.21. The stock has a market capitalization of $74.61 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 2.87 and a beta of 0.83. The firm has a 50 day moving average of $38.31 and a 200 day moving average of $38.97.

Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last posted its quarterly earnings results on Friday, May 5th. The pipeline company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. Enbridge had a return on equity of 10.23% and a net margin of 5.44%. The business had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $10.33 billion. Sell-side analysts forecast that Enbridge will post 2.2 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Monday, May 15th were paid a dividend of $0.655 per share. The ex-dividend date of this dividend was Friday, May 12th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 7.11%. This is a positive change from Enbridge’s previous quarterly dividend of $0.65. Enbridge’s dividend payout ratio (DPR) is presently 295.51%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Quilter Plc acquired a new stake in Enbridge in the first quarter valued at approximately $293,879,000. Coppell Advisory Solutions Corp. purchased a new position in Enbridge during the fourth quarter valued at $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Enbridge in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Enbridge in the first quarter valued at about $27,000. Finally, Richard W. Paul & Associates LLC purchased a new stake in shares of Enbridge during the fourth quarter worth about $30,000. 49.25% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Company Profile

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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.