Enbridge FY2024 EPS Lifted by National Bank Financial

Enbridge Inc. (TSE:ENB - Free Report) NYSE: ENB - Investment analysts at National Bank Financial raised their FY2024 earnings per share estimates for Enbridge in a report issued on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings of $2.82 per share for the year, up from their prior estimate of $2.80. The consensus estimate for Enbridge's current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge's FY2026 earnings at $3.27 EPS and FY2027 earnings at $3.36 EPS.

Several other research firms have also issued reports on ENB. Wells Fargo & Company upped their price target on shares of Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. BMO Capital Markets raised their target price on shares of Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Barclays boosted their price target on Enbridge from C$59.00 to C$64.00 in a research report on Monday. Royal Bank of Canada raised their price objective on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered Enbridge from a "buy" rating to a "hold" rating and boosted their target price for the stock from C$55.00 to C$58.00 in a report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of C$61.33.

Enbridge Stock Down 0.5 %

Shares of Enbridge stock traded down C$0.31 on Thursday, reaching C$62.99. 3,452,796 shares of the company were exchanged, compared to its average volume of 5,292,550. The company has a market capitalization of C$137.32 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. Enbridge has a one year low of C$45.05 and a one year high of C$63.40. The company has a 50-day moving average of C$60.00 and a 200 day moving average of C$55.44.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.99%. This is a positive change from Enbridge's previous quarterly dividend of $0.92. Enbridge's dividend payout ratio is presently 140.77%.

Insider Transactions at Enbridge

In related news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. Insiders own 0.10% of the company's stock.

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.