Brokers Offer Predictions for Enbridge FY2024 Earnings

Enbridge Inc. (TSE:ENB - Free Report) NYSE: ENB - Investment analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of Enbridge in a research report issued on Sunday, November 3rd. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $2.81 for the year, down from their previous estimate of $2.85. The consensus estimate for Enbridge's current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge's FY2025 earnings at $2.96 EPS.

Other research analysts have also recently issued research reports about the company. Raymond James increased their price objective on Enbridge from C$54.00 to C$59.00 in a research report on Tuesday, October 22nd. Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the stock an "equal weight" rating in a research report on Friday, October 25th. CIBC increased their target price on shares of Enbridge from C$59.00 to C$67.00 in a research report on Monday. Jefferies Financial Group downgraded shares of Enbridge from a "buy" rating to a "hold" rating and lifted their price target for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, Royal Bank of Canada increased their price target on Enbridge from C$55.00 to C$59.00 and gave the stock an "outperform" rating in a research report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Enbridge presently has a consensus rating of "Hold" and an average target price of C$56.92.

Enbridge Stock Performance

Shares of Enbridge stock traded up C$1.11 on Wednesday, hitting C$57.91. The stock had a trading volume of 14,412,993 shares, compared to its average volume of 8,075,959. The stock has a market cap of C$126.24 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The business's 50 day moving average is C$55.70 and its two-hundred day moving average is C$52.08. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a twelve month low of C$45.05 and a twelve month high of C$58.28.

Insider Buying and Selling

In other news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. In related news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. Also, Director Steven Walter Williams bought 18,600 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of C$53.74 per share, with a total value of C$999,564.00. 0.10% of the stock is owned by corporate insiders.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.915 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.66 dividend on an annualized basis and a yield of 6.32%. Enbridge's dividend payout ratio (DPR) is presently 140.77%.

About Enbridge

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.