National Bank Financial Weighs in on Enbridge Inc.’s Q1 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at National Bank Financial issued their Q1 2024 EPS estimates for Enbridge in a research note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the pipeline company will earn $0.55 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.14 per share.

Several other brokerages also recently weighed in on ENB. Stifel Nicolaus started coverage on shares of Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group started coverage on shares of Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

Enbridge stock opened at $35.67 on Thursday. The firm has a market capitalization of $75.83 billion, a P/E ratio of 16.99, a PEG ratio of 3.32 and a beta of 0.84. The firm has a fifty day moving average of $35.12 and a 200-day moving average of $34.77. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. Enbridge has a 52-week low of $31.03 and a 52-week high of $40.30.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Enbridge by 98.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock valued at $54,578,000 after acquiring an additional 815,850 shares during the last quarter. Clarius Group LLC boosted its stake in Enbridge by 25.2% during the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock valued at $289,000 after acquiring an additional 1,617 shares during the last quarter. S.E.E.D. Planning Group LLC boosted its stake in Enbridge by 81.1% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after acquiring an additional 102,850 shares during the last quarter. Private Trust Co. NA boosted its stake in Enbridge by 5.7% during the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after acquiring an additional 473 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock valued at $2,704,715,000 after acquiring an additional 4,400,848 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

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.