National Bank Financial Estimates Enbridge FY2024 Earnings

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at National Bank Financial cut their FY2024 EPS estimates for shares of Enbridge in a research report issued on Sunday, November 3rd. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will post earnings per share of $2.02 for the year, down from their previous forecast of $2.05. The consensus estimate for Enbridge’s current full-year earnings is $2.07 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period in the prior year, the business earned $0.51 EPS.

A number of other analysts have also recently commented on ENB. 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. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Stock Up 1.0 %

NYSE:ENB opened at $40.83 on Tuesday. Enbridge has a fifty-two week low of $32.76 and a fifty-two week high of $42.16. The stock has a market capitalization of $88.92 billion, a P/E ratio of 18.90, a P/E/G ratio of 3.91 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The company’s 50-day simple moving average is $40.75 and its 200-day simple moving average is $38.05.

Institutional Investors Weigh In On Enbridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENB. Grove Bank & Trust boosted its stake in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC boosted its stake in Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in Enbridge during the 2nd quarter worth $28,000. William B. Walkup & Associates Inc. acquired a new position in shares of Enbridge during the 2nd quarter valued at about $28,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is presently 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.