Traders Purchase High Volume of Call Options on Enbridge (ENB)

Enbridge Inc (NYSE:ENB) (TSE:ENB) saw unusually large options trading on Tuesday. Traders purchased 5,547 call options on the stock. This represents an increase of 929% compared to the average volume of 539 call options.

Several equities research analysts have issued reports on the company. Canaccord Genuity restated a “buy” rating and set a $54.00 price objective on shares of Enbridge in a report on Thursday, November 30th. Zacks Investment Research upgraded Enbridge from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Morgan Stanley decreased their target price on Enbridge from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Friday, November 17th. Bank of America initiated coverage on Enbridge in a research report on Tuesday. They set a “neutral” rating for the company. Finally, GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $52.00.

Shares of Enbridge (NYSE:ENB) traded up $0.25 during mid-day trading on Friday, reaching $39.74. The company’s stock had a trading volume of 2,462,535 shares, compared to its average volume of 2,560,000. Enbridge has a one year low of $34.39 and a one year high of $44.51. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The firm has a market cap of $67,110.00, a price-to-earnings ratio of 25.47, a PEG ratio of 2.83 and a beta of 0.64.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03. The company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same quarter in the previous year, the business earned $0.47 EPS. analysts predict that Enbridge will post 1.54 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.5278 per share. The ex-dividend date is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.31%. Enbridge’s payout ratio is 123.08%.

Several institutional investors have recently made changes to their positions in ENB. Spectrum Management Group Inc. purchased a new position in shares of Enbridge during the third quarter valued at $113,000. First Personal Financial Services grew its holdings in shares of Enbridge by 16.4% during the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock valued at $112,000 after buying an additional 397 shares in the last quarter. Welch Group LLC purchased a new position in shares of Enbridge during the second quarter valued at $121,000. Fieldpoint Private Securities LLC purchased a new position in shares of Enbridge during the third quarter valued at $130,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Enbridge during the third quarter valued at $146,000. 62.14% of the stock is currently owned by institutional investors.

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About Enbridge

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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