National Bank Financial Forecasts Enbridge FY2024 Earnings

Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB - National Bank Financial cut their FY2024 earnings per share (EPS) estimates for Enbridge in a report issued on Tuesday, December 3rd. National Bank Financial analyst P. Kenny now expects that the pipeline company will post earnings per share of $1.99 for the year, down from their prior estimate of $2.02. The consensus estimate for Enbridge's current full-year earnings is $2.04 per share.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last announced its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the business posted $0.46 earnings per share.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley began coverage on Enbridge in a research report on Friday, October 25th. They issued an "equal weight" rating on the stock. Wells Fargo & Company upgraded Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an "outperform" rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday. Finally, Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Enbridge currently has an average rating of "Hold" and an average price target of $63.00.

Enbridge Trading Up 0.6 %

NYSE:ENB traded up $0.27 on Thursday, reaching $43.91. The company's stock had a trading volume of 5,538,287 shares, compared to its average volume of 4,872,006. Enbridge has a 12-month low of $32.85 and a 12-month high of $44.13. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market cap of $95.64 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 4.27 and a beta of 0.94. The stock has a 50 day moving average price of $41.78 and a 200 day moving average price of $39.01.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.10%. Enbridge's payout ratio is 121.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. TruNorth Capital Management LLC purchased a new stake in Enbridge during the 2nd quarter worth about $28,000. William B. Walkup & Associates Inc. acquired a new stake in Enbridge during the 2nd quarter worth approximately $28,000. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company's stock valued at $28,000 after buying an additional 295 shares during the period. Grove Bank & Trust lifted its holdings in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company's stock valued at $31,000 after buying an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC lifted its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company's stock valued at $32,000 after buying an additional 280 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

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.