Q3 Earnings Estimate for Enbridge Issued By Atb Cap Markets

Enbridge Inc. (TSE:ENB - Free Report) NYSE: ENB - Research analysts at Atb Cap Markets lowered their Q3 2024 earnings per share estimates for shares of Enbridge in a research note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now anticipates that the company will earn $0.51 per share for the quarter, down from their previous estimate of $0.63. The consensus estimate for Enbridge's current full-year earnings is $3.51 per share. Atb Cap Markets also issued estimates for Enbridge's FY2024 earnings at $2.76 EPS.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last issued its quarterly earnings data on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). The business had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion. Enbridge had a net margin of 13.54% and a return on equity of 8.57%.

A number of other equities research analysts have also recently issued reports on ENB. BMO Capital Markets upped their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Raymond James upped their price target on Enbridge from C$54.00 to C$59.00 in a research note on Tuesday. National Bankshares raised their price objective on Enbridge from C$53.00 to C$57.00 and gave the company a "sector perform" rating in a research note on Friday, August 23rd. Jefferies Financial Group cut Enbridge from a "buy" rating to a "hold" rating and upped their target price for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. increased their price target on Enbridge from C$57.00 to C$60.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Enbridge currently has a consensus rating of "Hold" and a consensus target price of C$55.67.

Enbridge Stock Up 0.1 %

Shares of ENB traded up C$0.03 during mid-day trading on Thursday, hitting C$57.04. 5,674,701 shares of the company's stock were exchanged, compared to its average volume of 8,028,953. The stock has a market cap of C$124.35 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 1.72 and a beta of 0.90. The firm has a fifty day moving average of C$55.03 and a two-hundred day moving average of C$51.40. 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$43.46 and a twelve month high of C$58.28.

Insider Activity

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

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.915 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 annualized dividend and a dividend yield of 6.42%. Enbridge's payout ratio is 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.