Analysts Offer Predictions for Enbridge Inc.’s Q1 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Stock analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Enbridge in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the pipeline company will post earnings per share of $0.55 for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.14 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%.

A number of other analysts have also weighed in on the company. Jefferies Financial Group began coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Stifel Nicolaus started coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.20.

Enbridge Price Performance

NYSE:ENB opened at $36.27 on Thursday. The firm has a market cap of $77.11 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 3.32 and a beta of 0.84. The stock has a 50 day moving average of $35.16 and a two-hundred day moving average of $34.78. Enbridge has a 12 month low of $31.03 and a 12 month high of $40.30. The company has a current ratio of 0.83, a quick ratio of 0.74 and a debt-to-equity ratio of 1.30.

Institutional Trading of Enbridge

Large investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors boosted its holdings in shares of Enbridge by 26.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 7,381 shares of the pipeline company’s stock worth $246,000 after buying an additional 1,534 shares during the period. Caprock Group LLC raised its stake in shares of Enbridge by 25.2% in the 3rd quarter. Caprock Group LLC now owns 22,323 shares of the pipeline company’s stock valued at $742,000 after buying an additional 4,497 shares in the last quarter. Hennessy Advisors Inc. raised its stake in shares of Enbridge by 3.6% in the 3rd quarter. Hennessy Advisors Inc. now owns 669,565 shares of the pipeline company’s stock valued at $22,223,000 after buying an additional 23,000 shares in the last quarter. Blue Fin Capital Inc. lifted its holdings in Enbridge by 7.5% during the 3rd quarter. Blue Fin Capital Inc. now owns 10,075 shares of the pipeline company’s stock valued at $334,000 after purchasing an additional 702 shares during the last quarter. Finally, Verity & Verity LLC lifted its holdings in Enbridge by 6.3% during the 3rd quarter. Verity & Verity LLC now owns 461,115 shares of the pipeline company’s stock valued at $14,839,000 after purchasing an additional 27,473 shares during the last quarter. 54.60% of the stock is owned by institutional investors.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio is currently 129.05%.

Enbridge Company Profile

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.