What is Scotiabank's Estimate for Enbridge FY2024 Earnings?

Enbridge Inc. (TSE:ENB - Free Report) NYSE: ENB - Investment analysts at Scotiabank lowered their FY2024 earnings per share estimates for shares of Enbridge in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now forecasts that the company will earn $2.81 per share for the year, down from their previous forecast of $2.89. The consensus estimate for Enbridge's current full-year earnings is $3.51 per share. Scotiabank also issued estimates for Enbridge's FY2025 earnings at $3.07 EPS and FY2026 earnings at $3.19 EPS.

Several other research firms have also recently issued reports on ENB. Wells Fargo & Company boosted their price objective on shares of Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the stock an "equal weight" rating in a research note on Friday, October 25th. CIBC upped their target price on Enbridge from C$63.00 to C$66.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Royal Bank of Canada increased their price target on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Eight 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 has an average rating of "Hold" and a consensus price target of C$61.33.

Enbridge Trading Down 0.4 %

Shares of ENB traded down C$0.25 during trading hours on Friday, reaching C$62.74. 8,477,611 shares of the company traded hands, compared to its average volume of 5,747,559. The stock's fifty day moving average price is C$60.13 and its 200 day moving average price is C$55.55. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The firm has a market cap of C$136.77 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.72 and a beta of 0.90. Enbridge has a 12-month low of C$45.05 and a 12-month high of C$63.40.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be issued a $0.9425 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.92. This represents a $3.77 dividend on an annualized basis and a yield of 6.01%. Enbridge's payout ratio is currently 140.77%.

Insider Buying and Selling at Enbridge

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the company's stock in a transaction on Monday, December 23rd. The stock was 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.

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.