Enbridge (NYSE:ENB) Releases Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Enbridge (NYSE:ENB) (TSE:ENB) released its quarterly earnings data on Friday. The pipeline company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.23, Briefing.com reports. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $4.78 billion. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. During the same period in the previous year, the company posted $0.64 EPS.

Enbridge Stock Down 5.1 %

Shares of NYSE:ENB traded down $2.33 during mid-day trading on Friday, hitting $43.13. 5,862,322 shares of the company traded hands, compared to its average volume of 4,078,409. The firm has a market cap of $93.95 billion, a P/E ratio of 19.97, a PEG ratio of 4.08 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. Enbridge has a 52-week low of $32.85 and a 52-week high of $45.78. The firm’s 50 day simple moving average is $43.33 and its 200 day simple moving average is $41.70.

Enbridge Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.21%. Enbridge’s payout ratio is currently 121.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ENB shares. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley assumed coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Finally, Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.00.

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.