National Bank Financial Predicts Lower Earnings for Enbridge

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Research analysts at National Bank Financial dropped their FY2024 earnings per share estimates for shares of Enbridge in a research report issued on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates that the pipeline company will post earnings per share of $1.96 for the year, down from their prior estimate of $1.99. The consensus estimate for Enbridge’s current full-year earnings is $2.03 per share. National Bank Financial also issued estimates for Enbridge’s FY2025 earnings at $2.16 EPS and FY2028 earnings at $2.39 EPS.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Jefferies Financial Group downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th. Finally, Morgan Stanley initiated coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

NYSE ENB opened at $43.72 on Wednesday. The stock has a fifty day simple moving average of $42.30 and a 200-day simple moving average of $40.12. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock has a market cap of $95.23 billion, a PE ratio of 20.24, a P/E/G ratio of 4.14 and a beta of 0.93. Enbridge has a twelve month low of $32.85 and a twelve month high of $44.13.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. The company had revenue of $10.91 billion during the quarter, compared to the consensus estimate of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the prior year, the firm earned $0.46 EPS.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 6.13%. Enbridge’s dividend payout ratio is currently 124.07%.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. William B. Walkup & Associates Inc. acquired a new stake in shares of Enbridge during the 2nd quarter worth about $28,000. McIlrath & Eck LLC boosted its position in Enbridge by 74.9% during the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Grove Bank & Trust grew its stake in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares during the period. MFA Wealth Advisors LLC raised its holdings in Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge during the third quarter worth $35,000. Hedge funds and other institutional investors own 54.60% 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.