National Bank Financial Forecasts Enbridge FY2024 Earnings

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – National Bank Financial lowered their FY2024 earnings estimates for shares of Enbridge in a report issued on Tuesday, December 3rd. National Bank Financial analyst P. Kenny now anticipates that the company will earn $2.80 per share for the year, down from their prior forecast of $2.81. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge’s FY2025 earnings at $3.00 EPS.

Several other equities research analysts have also recently commented on ENB. Barclays boosted their price target on shares of Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and boosted their target price for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. upped their target price on Enbridge from C$60.00 to C$66.00 in a research report on Thursday, November 21st. Wells Fargo & Company raised Enbridge from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets upped their price target on Enbridge from C$59.00 to C$60.00 in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus price target of C$59.15.

Enbridge Stock Performance

Shares of TSE:ENB opened at C$61.38 on Thursday. The company has a market capitalization of C$133.81 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.72 and a beta of 0.90. The firm’s 50 day simple moving average is C$57.76 and its 200 day simple moving average is C$53.42. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$61.89.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 6.14%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is 140.77%.

Insider Activity

In other news, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. Insiders own 0.10% of the company’s stock.

About Enbridge

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.