Enbridge (NYSE:ENB) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB issued its quarterly earnings results on Friday. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23, Briefing.com reports. The firm had revenue of $11.59 billion for the quarter, compared to analysts' expectations of $4.78 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.15%. During the same period in the previous year, the firm posted $0.64 EPS.

Enbridge Price Performance

Shares of ENB stock traded down $0.44 during trading on Wednesday, hitting $42.31. The company had a trading volume of 6,076,593 shares, compared to its average volume of 4,289,305. Enbridge has a one year low of $32.85 and a one year high of $45.78. The stock's 50-day moving average price is $43.35 and its 200 day moving average price is $41.84. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The firm has a market capitalization of $92.20 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge's dividend payout ratio is 155.81%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ENB. Morgan Stanley initiated coverage on Enbridge in a research report on Friday, October 25th. They set an "equal weight" rating for the company. Wells Fargo & Company raised shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research report on Wednesday, November 6th. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They set a "buy" rating on the stock. Finally, Royal Bank of Canada lifted their price target on Enbridge from $63.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $67.00.

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.