Q4 EPS Estimates for Enbridge Reduced by US Capital Advisors

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Stock analysts at US Capital Advisors reduced their Q4 2024 earnings per share (EPS) estimates for Enbridge in a report issued on Monday, February 3rd. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will post earnings of $0.53 per share for the quarter, down from their prior forecast of $0.54. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share.

A number of other analysts have also recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Stock Up 1.9 %

ENB opened at $43.73 on Wednesday. The firm has a market cap of $95.25 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. The business has a 50 day moving average price of $43.11 and a 200 day moving average price of $41.27. Enbridge has a twelve month low of $32.85 and a twelve month high of $45.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in Enbridge by 4.0% during the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after purchasing an additional 2,061,758 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Enbridge by 1.1% during the third quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after purchasing an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Enbridge by 27.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock valued at $498,734,000 after purchasing an additional 2,668,692 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Enbridge by 10.8% in the third quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock valued at $416,431,000 after purchasing an additional 985,546 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.13%. Enbridge’s dividend payout ratio is 121.76%.

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.