Stock Traders Buy High Volume of Enbridge Put Options (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) saw unusually large options trading activity on Wednesday. Investors bought 20,216 put options on the stock. This represents an increase of 1,036% compared to the average daily volume of 1,779 put options.

Institutional Trading of Enbridge

Several institutional investors have recently made changes to their positions in ENB. BOK Financial Private Wealth Inc. acquired a new stake in Enbridge in the fourth quarter valued at approximately $25,000. Baystate Wealth Management LLC lifted its stake in shares of Enbridge by 836.4% in the fourth quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock worth $26,000 after buying an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Enbridge during the 4th quarter worth $28,000. Financial Gravity Asset Management Inc. grew its stake in Enbridge by 2,294.6% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 886 shares of the pipeline company’s stock valued at $29,000 after buying an additional 849 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Enbridge during the first quarter valued at about $29,000. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Stock Performance

Shares of ENB opened at $35.27 on Friday. Enbridge has a one year low of $31.03 and a one year high of $38.37. The company has a 50-day moving average of $35.97 and a two-hundred day moving average of $35.62. The stock has a market cap of $74.98 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 3.28 and a beta of 0.90. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.59 by $0.09. The business had revenue of $8.19 billion during the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. On average, equities research analysts expect that Enbridge will post 2.13 earnings per share for the current year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were issued a dividend of $0.677 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend was Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

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.