Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) – Stock analysts at Raymond James raised their FY2023 earnings per share (EPS) estimates for Enbridge in a report released on Tuesday, April 19th. Raymond James analyst A. Bradford now expects that the pipeline company will earn $2.65 per share for the year, up from their previous estimate of $2.52. Raymond James has a “Market Perform” rating and a $54.50 price objective on the stock.
Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last announced its quarterly earnings results on Friday, February 11th. The pipeline company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.07). The company had revenue of $9.89 billion during the quarter, compared to analysts’ expectations of $10.10 billion. Enbridge had a return on equity of 9.98% and a net margin of 12.66%.
Shares of NYSE ENB opened at $46.42 on Wednesday. The firm’s 50-day moving average price is $44.47 and its 200-day moving average price is $41.89. The company has a current ratio of 0.49, a quick ratio of 0.40 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $94.03 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 3.19 and a beta of 0.78. Enbridge has a 12-month low of $36.21 and a 12-month high of $47.42.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ENB. Norges Bank purchased a new position in Enbridge in the fourth quarter worth $676,148,000. GQG Partners LLC acquired a new stake in shares of Enbridge during the fourth quarter worth $380,238,000. Cook Street Consulting Inc. acquired a new stake in shares of Enbridge during the fourth quarter worth $348,749,000. Brookfield Asset Management Inc. lifted its stake in shares of Enbridge by 167.0% during the third quarter. Brookfield Asset Management Inc. now owns 8,913,847 shares of the pipeline company’s stock worth $125,175,000 after buying an additional 5,575,344 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Enbridge by 24.0% during the third quarter. Toronto Dominion Bank now owns 21,728,940 shares of the pipeline company’s stock worth $890,622,000 after buying an additional 4,208,208 shares during the period. 53.80% of the stock is currently owned by institutional investors and hedge funds.
Enbridge Company Profile (Get Rating)
Enbridge Inc 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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