Brokers Offer Predictions for Enbridge Inc.’s Q1 2024 Earnings (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Equities researchers at Atb Cap Markets raised their Q1 2024 earnings estimates for Enbridge in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $0.86 per share for the quarter, up from their previous estimate of $0.81. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.97 EPS.

ENB has been the subject of several other reports. ATB Capital set a C$56.00 price target on shares of Enbridge and gave the stock an “outperform” rating in a report on Friday, January 5th. Stifel Nicolaus decreased their price objective on Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a report on Thursday. Jefferies Financial Group decreased their price objective on Enbridge from C$54.00 to C$53.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. National Bankshares increased their price objective on Enbridge from C$51.00 to C$52.00 in a report on Thursday, March 7th. Finally, Royal Bank of Canada decreased their price objective on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$52.94.

Enbridge Stock Down 1.1 %

Shares of TSE:ENB opened at C$48.96 on Friday. The company has a fifty day moving average of C$47.80 and a 200-day moving average of C$47.16. The company has a market capitalization of C$104.28 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. The company has a debt-to-equity ratio of 127.95, a quick ratio of 0.44 and a current ratio of 0.83. Enbridge has a 52-week low of C$42.75 and a 52-week high of C$54.05.

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

Enbridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.915 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.66 annualized dividend and a yield of 7.48%. Enbridge’s dividend payout ratio (DPR) is 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.