Q1 2024 Earnings Estimate for Enbridge Inc. (NYSE:ENB) Issued By Atb Cap Markets

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Equities research analysts at Atb Cap Markets increased their Q1 2024 earnings estimates for Enbridge in a research report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings of $0.63 per share for the quarter, up from their prior forecast of $0.60. The consensus estimate for Enbridge’s current full-year earnings is $2.14 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.17 EPS.

A number of other research analysts also recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research report on Thursday, January 18th. They set a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

Shares of ENB opened at $35.82 on Friday. The company’s 50 day moving average price is $35.19 and its 200 day moving average price is $34.80. Enbridge has a 52 week low of $31.03 and a 52 week high of $40.30. The company has a market capitalization of $76.15 billion, a PE ratio of 17.06, a PEG ratio of 3.34 and a beta of 0.84. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.74 and a current ratio of 0.83.

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

Institutional Trading of Enbridge

Several large investors have recently added to or reduced their stakes in the business. Harbor Investment Advisory LLC grew its position in Enbridge by 5.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after acquiring an additional 280 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in shares of Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after buying an additional 300 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Enbridge by 0.4% during the 1st quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock worth $3,139,000 after buying an additional 324 shares during the period. Capital Investment Counsel Inc boosted its holdings in shares of Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after buying an additional 326 shares during the period. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Enbridge by 2.8% during the 1st quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock worth $452,000 after buying an additional 337 shares during the period. 54.60% of the stock is owned by institutional investors.

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 given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.56%. This is an increase from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date is Tuesday, May 14th. Enbridge’s payout ratio is currently 129.05%.

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.