FY2022 EPS Estimates for Enbridge Inc. (NYSE:ENB) Reduced by Analyst

Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) – Raymond James reduced their FY2022 earnings per share estimates for Enbridge in a research note issued on Tuesday, August 2nd. Raymond James analyst A. Bradford now expects that the pipeline company will post earnings of $2.31 per share for the year, down from their prior estimate of $2.34. The consensus estimate for Enbridge’s current full-year earnings is $2.33 per share. Raymond James also issued estimates for Enbridge’s FY2023 earnings at $2.50 EPS.

Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last issued its quarterly earnings results on Friday, July 29th. The pipeline company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Enbridge had a return on equity of 10.46% and a net margin of 9.98%. During the same quarter in the prior year, the business earned $0.55 EPS.

A number of other research analysts also recently commented on the company. Scotiabank boosted their target price on Enbridge from C$58.00 to C$62.00 in a research note on Tuesday, April 19th. National Bank Financial boosted their target price on Enbridge from C$60.00 to C$61.00 in a research note on Tuesday. Industrial Alliance Securities upgraded Enbridge from a “hold” rating to a “buy” rating and set a C$60.00 target price on the stock in a research note on Wednesday. Morgan Stanley boosted their price target on Enbridge from C$60.00 to C$67.00 in a research report on Tuesday, April 26th. Finally, Royal Bank of Canada boosted their price target on Enbridge from C$60.00 to C$65.00 in a research report on Monday, May 9th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.46.

Enbridge Stock Performance

Shares of NYSE ENB opened at $43.25 on Thursday. The business’s 50-day moving average price is $43.42 and its two-hundred day moving average price is $43.82. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.58 and a quick ratio of 0.60. Enbridge has a one year low of $36.21 and a one year high of $47.67. The company has a market capitalization of $87.57 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 3.15 and a beta of 0.78.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 15th will be paid a $0.668 dividend. The ex-dividend date is Friday, August 12th. This represents a $2.67 annualized dividend and a dividend yield of 6.18%. Enbridge’s dividend payout ratio is currently 140.00%.

Institutional Investors Weigh In On Enbridge

Several large investors have recently modified their holdings of ENB. Financial Management Professionals Inc. grew its stake in shares of Enbridge by 605.2% in the 1st quarter. Financial Management Professionals Inc. now owns 543 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 466 shares during the period. Financial Connections Group Inc. grew its stake in shares of Enbridge by 136.4% in the 2nd quarter. Financial Connections Group Inc. now owns 624 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 360 shares during the period. First Command Bank grew its stake in shares of Enbridge by 96.4% in the 1st quarter. First Command Bank now owns 601 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Rise Advisors LLC bought a new stake in shares of Enbridge in the 4th quarter valued at approximately $32,000. Finally, Hallmark Capital Management Inc. bought a new stake in Enbridge during the 2nd quarter worth approximately $32,000. 53.23% of the stock is currently owned by institutional investors.

Enbridge Company Profile

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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.