Scotiabank Has Strong Forecast for Enbridge FY2027 Earnings

Enbridge Inc (NYSE:ENB) (TSE:ENB) – Analysts at Scotiabank lifted their FY2027 EPS estimates for Enbridge in a research report issued on Friday, April 17th. Scotiabank analyst R. Hope now anticipates that the pipeline company will post earnings of $2.47 per share for the year, up from their prior estimate of $2.46. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Enbridge’s current full-year earnings is $2.24 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, February 13th. The pipeline company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a net margin of 11.30% and a return on equity of 11.19%. The firm had revenue of $17.18 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share.

Other research analysts have also recently issued research reports about the stock. TD Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Raymond James Financial upgraded shares of Enbridge to a “moderate buy” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Enbridge Stock Performance

Shares of ENB opened at $51.90 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.55 and a current ratio of 0.63. Enbridge has a twelve month low of $43.59 and a twelve month high of $55.44. The firm’s 50 day moving average price is $53.41 and its two-hundred day moving average price is $49.72. The firm has a market cap of $113.34 billion, a P/E ratio of 22.57 and a beta of 0.63.

Institutional Trading of Enbridge

A number of large investors have recently added to or reduced their stakes in ENB. Norges Bank acquired a new stake in Enbridge in the fourth quarter valued at $1,195,559,000. Auto Owners Insurance Co lifted its stake in Enbridge by 4,683.0% in the fourth quarter. Auto Owners Insurance Co now owns 8,566,831 shares of the pipeline company’s stock valued at $40,975,000 after acquiring an additional 8,387,721 shares during the last quarter. Bank of Nova Scotia lifted its stake in Enbridge by 118.0% in the third quarter. Bank of Nova Scotia now owns 9,526,380 shares of the pipeline company’s stock valued at $480,518,000 after acquiring an additional 5,157,030 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Enbridge in the fourth quarter valued at $132,705,000. Finally, Vanguard Group Inc. lifted its stake in Enbridge by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 100,364,993 shares of the pipeline company’s stock valued at $4,802,766,000 after acquiring an additional 2,067,516 shares during the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.