Analysts Offer Predictions for Enbridge Inc.’s Q1 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – National Bank Financial issued their Q1 2024 earnings estimates for shares of Enbridge in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the pipeline company will post earnings of $0.55 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.14 per share.

Several other research analysts have also weighed in on the company. Stifel Nicolaus initiated coverage on Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group began coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge currently has an average rating of “Hold” and an average price target of $55.20.

Enbridge Trading Up 1.7 %

ENB opened at $36.27 on Thursday. The company’s 50 day moving average price is $35.16 and its two-hundred day moving average price is $34.78. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. Enbridge has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The firm has a market capitalization of $77.11 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 3.32 and a beta of 0.84.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a return on equity of 10.23% and a net margin of 13.97%.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.677 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.47%. Enbridge’s dividend payout ratio (DPR) is currently 129.05%.

Institutional Investors Weigh In On Enbridge

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its position in shares of Enbridge by 39.8% during the 1st quarter. Lindbrook Capital LLC now owns 3,706 shares of the pipeline company’s stock valued at $134,000 after purchasing an additional 1,056 shares during the period. Advocate Group LLC boosted its stake in shares of Enbridge by 10.4% during the 1st quarter. Advocate Group LLC now owns 226,072 shares of the pipeline company’s stock worth $8,179,000 after purchasing an additional 21,366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Enbridge by 0.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 813,152 shares of the pipeline company’s stock valued at $29,413,000 after buying an additional 5,767 shares during the period. L.M. Kohn & Company boosted its position in Enbridge by 15.0% in the 1st quarter. L.M. Kohn & Company now owns 6,632 shares of the pipeline company’s stock valued at $240,000 after buying an additional 867 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in shares of Enbridge during the first quarter valued at approximately $232,000. Hedge funds and other institutional investors own 54.60% 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.