Enbridge FY2024 EPS Cut by National Bank Financial

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – National Bank Financial dropped their FY2024 earnings per share estimates for shares of Enbridge in a note issued to investors on Monday, January 6th. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will earn $1.96 per share for the year, down from their previous estimate of $1.99. The consensus estimate for Enbridge’s current full-year earnings is $2.03 per share. National Bank Financial also issued estimates for Enbridge’s FY2025 earnings at $2.16 EPS and FY2028 earnings at $2.39 EPS.

Several other analysts also recently weighed in on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Morgan Stanley started coverage on shares of Enbridge in a research report on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average target price of $63.00.

Enbridge Trading Up 1.7 %

ENB opened at $43.72 on Wednesday. Enbridge has a 52 week low of $32.85 and a 52 week high of $44.13. The company has a market capitalization of $95.23 billion, a P/E ratio of 20.24, a PEG ratio of 4.14 and a beta of 0.93. The stock’s fifty day moving average is $42.30 and its two-hundred day moving average is $40.12. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the prior year, the firm earned $0.46 EPS.

Institutional Investors Weigh In On Enbridge

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Richardson Financial Services Inc. raised its stake in Enbridge by 28.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock worth $45,000 after acquiring an additional 246 shares during the last quarter. Associated Banc Corp lifted its stake in Enbridge by 3.6% during the 3rd quarter. Associated Banc Corp now owns 7,091 shares of the pipeline company’s stock valued at $288,000 after acquiring an additional 248 shares during the period. Hobbs Group Advisors LLC boosted its stake in shares of Enbridge by 15.1% in the third quarter. Hobbs Group Advisors LLC now owns 1,897 shares of the pipeline company’s stock worth $77,000 after buying an additional 249 shares during the last quarter. Centaurus Financial Inc. grew its holdings in Enbridge by 1.7% during the third quarter. Centaurus Financial Inc. now owns 14,980 shares of the pipeline company’s stock worth $608,000 after acquiring an additional 256 shares during the period. Finally, First PREMIER Bank lifted its holdings in Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Cuts Dividend

The business 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. This represents a $2.68 annualized dividend and a yield of 6.13%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio is presently 124.07%.

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.