Investors Purchase Large Volume of Enbridge Call Options (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) was the recipient of unusually large options trading on Wednesday. Traders bought 54,663 call options on the stock. This represents an increase of 1,550% compared to the average daily volume of 3,313 call options.

Enbridge Price Performance

ENB stock traded up $0.16 during midday trading on Wednesday, hitting $39.54. The company’s stock had a trading volume of 7,694,473 shares, compared to its average volume of 5,475,574. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. Enbridge has a 12 month low of $31.03 and a 12 month high of $39.72. The company has a 50 day moving average of $36.26 and a two-hundred day moving average of $35.78. The firm has a market capitalization of $84.36 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 3.55 and a beta of 0.92.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the firm earned $0.51 EPS. On average, analysts expect that Enbridge will post 2.12 EPS for the current year.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Investors Weigh In On Enbridge

Institutional investors and hedge funds have recently bought and sold shares of the company. BOK Financial Private Wealth Inc. bought a new stake in shares of Enbridge in the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in Enbridge in the fourth quarter valued at approximately $28,000. TruNorth Capital Management LLC purchased a new position in Enbridge in the second quarter worth $28,000. Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the first quarter worth $29,000. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Enbridge during the 1st quarter valued at $31,000. 54.60% of the stock is owned by institutional investors.

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.