Enbridge Inc. (TSE:ENB) Expected to Post Q1 2024 Earnings of $0.75 Per Share

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Equities researchers at National Bank Financial issued their Q1 2024 earnings estimates for shares of Enbridge in a research report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will earn $0.75 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share.

A number of other brokerages have also recently weighed in on ENB. Stifel Nicolaus decreased their price target on shares of Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a research report on Thursday. Barclays decreased their price target on shares of Enbridge from C$53.00 to C$51.00 in a research report on Thursday, March 7th. ATB Capital set a C$56.00 price objective on shares of Enbridge and gave the stock an “outperform” rating in a report on Friday, January 5th. Jefferies Financial Group cut their price objective on shares of Enbridge from C$54.00 to C$53.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, National Bankshares boosted their price objective on shares of Enbridge from C$51.00 to C$52.00 in a report on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$52.94.

Enbridge Stock Up 1.4 %

Shares of Enbridge stock opened at C$49.52 on Thursday. The company has a fifty day moving average price of C$47.75 and a 200 day moving average price of C$47.12. The company has a current ratio of 0.83, a quick ratio of 0.44 and a debt-to-equity ratio of 127.95. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$54.05. The stock has a market cap of C$105.48 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The company reported C$0.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.68 by C($0.04). Enbridge had a return on equity of 9.47% and a net margin of 14.18%. The business had revenue of C$11.30 billion for the quarter, compared to analysts’ expectations of C$12.99 billion.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.39%. Enbridge’s dividend payout ratio (DPR) is presently 128.87%.

About Enbridge

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.