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

Enbridge (NYSE:ENB) (TSE:ENB) announced its earnings results on Friday. The pipeline company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 13.54% and a return on equity of 9.94%. During the same quarter in the previous year, the firm posted $0.64 earnings per share.

Enbridge Stock Performance

Shares of ENB stock opened at $43.13 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market cap of $93.95 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The stock has a 50-day moving average of $43.33 and a 200-day moving average of $41.70. Enbridge has a one year low of $32.85 and a one year high of $45.78.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge’s dividend payout ratio (DPR) is presently 121.76%.

Wall Street Analyst Weigh In

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

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.