Equities Analysts Offer Predictions for Enbridge Q3 Earnings

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – National Bank Financial issued their Q3 2024 earnings per share estimates for Enbridge in a research note issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the company will post earnings per share of $0.61 for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share.

Other analysts have also recently issued reports about the stock. Raymond James increased their target price on shares of Enbridge from C$54.00 to C$59.00 in a report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada lifted their target price on Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and increased their price target for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, Morgan Stanley set a C$64.00 price objective on Enbridge and gave the company an “equal weight” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$56.31.

Enbridge Stock Performance

Shares of ENB opened at C$56.93 on Friday. The stock has a market capitalization of C$124.11 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The business’s fifty day moving average price is C$55.09 and its 200 day moving average price is C$51.46. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. Enbridge has a 12-month low of C$43.46 and a 12-month high of C$58.28.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, August 2nd. The company reported C$0.58 EPS for the quarter, missing analysts’ consensus estimates of C$0.62 by C($0.04). Enbridge had a return on equity of 8.57% and a net margin of 13.54%. The firm had revenue of C$11.34 billion for the quarter, compared to the consensus estimate of C$5.86 billion.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.43%. The ex-dividend date of this dividend was Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Activity at Enbridge

In related news, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. In related news, Senior Officer Maximilian Chan sold 688 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Also, Director Steven Walter Williams bought 18,600 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of C$53.74 per share, with a total value of C$999,564.00. Company insiders own 0.10% of the company’s stock.

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.