Enbridge Inc. (NYSE:ENB) Expected to Post FY2023 Earnings of $2.16 Per Share

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Equities researchers at Zacks Research raised their FY2023 earnings per share (EPS) estimates for Enbridge in a report released on Wednesday, August 30th. Zacks Research analyst A. Kanoria now forecasts that the pipeline company will post earnings of $2.16 per share for the year, up from their prior forecast of $2.15. The consensus estimate for Enbridge’s current full-year earnings is $2.12 per share. Zacks Research also issued estimates for Enbridge’s Q3 2024 earnings at $0.48 EPS.

ENB has been the subject of several other reports. Royal Bank of Canada cut their price target on Enbridge from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, August 7th. StockNews.com assumed coverage on Enbridge in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, TD Securities cut their price target on Enbridge from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, August 8th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average price target of $57.67.

Enbridge Trading Down 0.5 %

Shares of NYSE:ENB opened at $35.08 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.64 and a debt-to-equity ratio of 1.27. The stock has a market cap of $70.95 billion, a PE ratio of 25.06, a P/E/G ratio of 2.72 and a beta of 0.84. The business has a 50 day moving average of $36.17 and a 200-day moving average of $37.45. Enbridge has a 12-month low of $33.96 and a 12-month high of $44.10.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, August 4th. The pipeline company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Enbridge had a return on equity of 10.20% and a net margin of 8.58%. The company had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.49 billion.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date is Monday, August 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. Enbridge’s dividend payout ratio (DPR) is currently 187.86%.

Institutional Investors Weigh In On Enbridge

Large investors have recently modified their holdings of the business. White Pine Capital LLC raised its holdings in shares of Enbridge by 4.7% in the 1st quarter. White Pine Capital LLC now owns 5,704 shares of the pipeline company’s stock worth $218,000 after purchasing an additional 255 shares during the period. RMR Wealth Builders raised its holdings in shares of Enbridge by 2.4% in the 1st quarter. RMR Wealth Builders now owns 11,628 shares of the pipeline company’s stock worth $444,000 after purchasing an additional 275 shares during the period. Eudaimonia Partners LLC raised its holdings in shares of Enbridge by 2.4% in the 2nd quarter. Eudaimonia Partners LLC now owns 11,900 shares of the pipeline company’s stock worth $442,000 after purchasing an additional 278 shares during the period. Riverview Capital Advisers LLC raised its holdings in shares of Enbridge by 0.7% in the 4th quarter. Riverview Capital Advisers LLC now owns 39,299 shares of the pipeline company’s stock worth $1,537,000 after purchasing an additional 281 shares during the period. Finally, Cranbrook Wealth Management LLC raised its holdings in shares of Enbridge by 24.0% in the 1st quarter. Cranbrook Wealth Management LLC now owns 1,525 shares of the pipeline company’s stock worth $58,000 after purchasing an additional 295 shares during the period. Institutional investors and hedge funds own 48.29% of the company’s stock.

Enbridge Company Profile

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.