National Bank Financial Research Analysts Increase Earnings Estimates for Enbridge Inc. (NYSE:ENB)

Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) – Analysts at National Bank Financial increased their FY2024 EPS estimates for shares of Enbridge in a research report issued on Monday, January 29th. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will post earnings per share of $2.09 for the year, up from their previous forecast of $1.88. The consensus estimate for Enbridge’s current full-year earnings is $2.10 per share. National Bank Financial also issued estimates for Enbridge’s FY2027 earnings at $2.31 EPS.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its earnings results on Friday, November 3rd. The pipeline company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.88 billion. Enbridge had a net margin of 7.26% and a return on equity of 10.02%.

A number of other research analysts also recently issued reports on ENB. Barclays cut their price objective on shares of Enbridge from $54.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Stifel Nicolaus began coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating on the stock. Wells Fargo & Company downgraded shares of Enbridge from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, October 25th. StockNews.com began coverage on shares of Enbridge in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada cut their price objective on shares of Enbridge from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.20.

View Our Latest Report on Enbridge

Enbridge Stock Down 1.3 %

Shares of Enbridge stock opened at $35.51 on Wednesday. The firm’s 50 day moving average price is $35.70 and its 200-day moving average price is $34.75. The company has a quick ratio of 0.57, a current ratio of 0.67 and a debt-to-equity ratio of 1.12. Enbridge has a 52-week low of $31.03 and a 52-week high of $41.14. The company has a market cap of $75.47 billion, a P/E ratio of 31.99, a PEG ratio of 2.84 and a beta of 0.89.

Institutional Investors Weigh In On Enbridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Dupree Financial Group LLC purchased a new stake in shares of Enbridge during the fourth quarter worth $18,046,000. J.W. Cole Advisors Inc. grew its holdings in shares of Enbridge by 5.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 14,564 shares of the pipeline company’s stock worth $525,000 after buying an additional 708 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Enbridge during the fourth quarter worth $39,000. Greenleaf Trust boosted its position in shares of Enbridge by 16.7% during the 4th quarter. Greenleaf Trust now owns 21,343 shares of the pipeline company’s stock valued at $769,000 after acquiring an additional 3,062 shares during the last quarter. Finally, Kellett Wealth Advisors LLC boosted its position in shares of Enbridge by 20.4% during the 4th quarter. Kellett Wealth Advisors LLC now owns 9,546 shares of the pipeline company’s stock valued at $344,000 after acquiring an additional 1,618 shares during the last quarter. Hedge funds and other institutional investors own 48.29% of the company’s stock.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be issued a $0.659 dividend. This represents a $2.64 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.64. Enbridge’s payout ratio is presently 234.23%.

Enbridge Company Profile

(Get Free Report)

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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Earnings History and Estimates for Enbridge (NYSE:ENB)

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