FY2024 Earnings Estimate for Enbridge Inc. (NYSE:ENB) Issued By National Bank Financial

Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) – Investment analysts at National Bank Financial upped their FY2024 earnings estimates for Enbridge in a research note issued to investors on Monday, January 29th. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will earn $2.09 per share for the year, up from their previous forecast of $1.88. The consensus estimate for Enbridge’s current full-year earnings is $2.10 per share. National Bank Financial also issued estimates for Enbridge’s FY2027 earnings at $2.31 EPS.

Enbridge (NYSE:ENBGet Free Report) (TSE:ENB) last posted its quarterly earnings results on Friday, November 3rd. The pipeline company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.88 billion. Enbridge had a net margin of 7.26% and a return on equity of 10.02%.

A number of other research analysts have also recently issued reports on ENB. Royal Bank of Canada dropped their target price on shares of Enbridge from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Wolfe Research cut shares of Enbridge from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, October 17th. Wells Fargo & Company cut shares of Enbridge from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, October 25th. StockNews.com started coverage on shares of Enbridge in a research note on Thursday, October 5th. They set a “hold” rating for the company. Finally, Barclays decreased their target price on shares of Enbridge from $54.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.20.

Check Out Our Latest Stock Analysis on ENB

Enbridge Trading Up 0.1 %

Shares of Enbridge stock opened at $36.00 on Wednesday. Enbridge has a 12-month low of $31.03 and a 12-month high of $41.14. The company has a current ratio of 0.67, a quick ratio of 0.57 and a debt-to-equity ratio of 1.12. The stock has a market cap of $76.52 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 2.84 and a beta of 0.89. The company has a 50-day moving average of $35.67 and a two-hundred day moving average of $34.75.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently made changes to their positions in the stock. BOK Financial Private Wealth Inc. acquired a new position in shares of Enbridge in the 4th quarter valued at $25,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Enbridge during the 4th quarter valued at $25,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of Enbridge during the 4th quarter valued at $25,000. Steward Financial Group LLC lifted its holdings in shares of Enbridge by 114.6% during the 2nd quarter. Steward Financial Group LLC now owns 719 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 384 shares in the last quarter. Finally, Baystate Wealth Management LLC lifted its holdings in shares of Enbridge by 836.4% during the 4th quarter. Baystate Wealth Management LLC now owns 721 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 644 shares in the last quarter. Institutional investors and hedge funds own 48.29% of the company’s stock.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be issued a $0.659 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.64. Enbridge’s dividend payout ratio (DPR) is 234.23%.

About Enbridge

(Get Free Report)

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.

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Earnings History and Estimates for Enbridge (NYSE:ENB)

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