Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB - Atb Cap Markets reduced their FY2024 EPS estimates for shares of Enbridge in a note issued to investors on Thursday, February 6th. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will earn $1.96 per share for the year, down from their prior estimate of $1.99. The consensus estimate for Enbridge's current full-year earnings is $1.97 per share. Atb Cap Markets also issued estimates for Enbridge's Q4 2024 earnings at $0.53 EPS and FY2025 earnings at $2.00 EPS.
A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They issued an "equal weight" rating on the stock. TD Securities assumed coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a "buy" rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.00.
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Enbridge Stock Performance
Shares of ENB stock traded up $0.49 on Monday, reaching $45.59. The stock had a trading volume of 3,649,942 shares, compared to its average volume of 4,032,432. 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's 50-day moving average is $43.30 and its two-hundred day moving average is $41.63. The firm has a market capitalization of $99.32 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 4.08 and a beta of 0.94. Enbridge has a 12 month low of $32.85 and a 12 month high of $45.78.
Enbridge Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.88%. Enbridge's payout ratio is presently 121.76%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ENB. apricus wealth LLC grew its stake in Enbridge by 1.1% in the 4th quarter. apricus wealth LLC now owns 20,615 shares of the pipeline company's stock worth $875,000 after buying an additional 220 shares in the last quarter. Cornerstone Wealth Management LLC raised its holdings in Enbridge by 0.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 29,503 shares of the pipeline company's stock worth $1,252,000 after purchasing an additional 227 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in Enbridge by 3.2% in the 4th quarter. Armstrong Advisory Group Inc. now owns 7,508 shares of the pipeline company's stock worth $319,000 after purchasing an additional 230 shares in the last quarter. Wintrust Investments LLC grew its position in shares of Enbridge by 47.8% in the 4th quarter. Wintrust Investments LLC now owns 736 shares of the pipeline company's stock worth $31,000 after buying an additional 238 shares during the period. Finally, Eagle Bay Advisors LLC grew its position in shares of Enbridge by 10.6% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,507 shares of the pipeline company's stock worth $106,000 after buying an additional 240 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.
About Enbridge
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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.
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