Enbridge (NYSE:ENB) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Enbridge (NYSE:ENBGet Rating) (TSE:ENB) released its quarterly earnings data on Friday. The pipeline company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.01), Briefing.com reports. Enbridge had a return on equity of 9.98% and a net margin of 12.66%. During the same quarter last year, the business posted $0.62 EPS.

NYSE ENB traded up $0.85 on Friday, reaching $45.43. 5,652,072 shares of the stock traded hands, compared to its average volume of 3,360,746. The firm’s fifty day simple moving average is $45.19 and its 200 day simple moving average is $42.15. The company has a quick ratio of 0.40, a current ratio of 0.49 and a debt-to-equity ratio of 1.22. The company has a market cap of $92.05 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 3.12 and a beta of 0.77. Enbridge has a 12 month low of $36.21 and a 12 month high of $47.42.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be given a $0.669 dividend. This represents a $2.68 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, May 12th. Enbridge’s dividend payout ratio is currently 117.90%.

A number of hedge funds and other institutional investors have recently modified their holdings of ENB. EverSource Wealth Advisors LLC bought a new position in Enbridge during the 4th quarter valued at $213,000. Sequoia Financial Advisors LLC bought a new stake in shares of Enbridge during the 4th quarter worth $446,000. State Street Corp boosted its stake in shares of Enbridge by 6.3% during the 4th quarter. State Street Corp now owns 1,140,421 shares of the pipeline company’s stock worth $44,568,000 after acquiring an additional 67,654 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Enbridge by 15.1% during the 4th quarter. Sei Investments Co. now owns 315,833 shares of the pipeline company’s stock worth $12,325,000 after acquiring an additional 41,330 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Enbridge by 59.1% during the 4th quarter. Advisors Asset Management Inc. now owns 55,564 shares of the pipeline company’s stock worth $2,171,000 after acquiring an additional 20,634 shares in the last quarter. 53.23% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on ENB. TD Securities upped their target price on Enbridge from C$57.00 to C$59.00 in a report on Monday, February 14th. BMO Capital Markets increased their price target on Enbridge from C$57.00 to C$59.00 in a research report on Monday, February 14th. Morgan Stanley increased their price target on Enbridge from C$60.00 to C$67.00 in a research report on Tuesday, April 26th. StockNews.com started coverage on Enbridge in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Raymond James increased their price target on Enbridge from C$53.00 to C$54.50 and gave the stock a “market perform” rating in a research report on Monday, February 14th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Buy” and a consensus target price of $54.70.

About Enbridge (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.

See Also

Earnings History for Enbridge (NYSE:ENB)

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