Brokers Issue Forecasts for Enbridge’s Q4 Earnings (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Equities research analysts at Atb Cap Markets lifted their Q4 2024 earnings estimates for shares of Enbridge in a research report issued to clients and investors on Thursday, February 6th. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn $0.75 per share for the quarter, up from their previous forecast of $0.71. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company upped their price target on Enbridge from C$57.00 to C$60.00 in a research note on Thursday, December 5th. Royal Bank of Canada increased their price objective on Enbridge from C$59.00 to C$63.00 in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. CIBC increased their target price on shares of Enbridge from C$63.00 to C$66.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Finally, Morgan Stanley set a C$64.00 price target on shares of Enbridge and gave the company an “equal weight” rating in a research report on Friday, October 25th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of C$62.23.

Enbridge Stock Performance

ENB opened at C$64.15 on Monday. Enbridge has a twelve month low of C$45.05 and a twelve month high of C$65.62. The firm has a market capitalization of C$139.85 billion, a PE ratio of 24.67, a PEG ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. The firm’s 50-day moving average price is C$61.90 and its 200 day moving average price is C$57.76.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, March 1st will be given a dividend of $0.9425 per share. This represents a $3.77 dividend on an annualized basis and a dividend yield of 5.88%. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is presently 140.77%.

Insider Buying and Selling at Enbridge

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of Enbridge stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of C$59.94, for a total value of C$66,293.64. 0.10% of the stock is currently owned by corporate insiders.

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.