National Bank Financial Estimates Enbridge FY2024 Earnings

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at National Bank Financial dropped their FY2024 earnings per share estimates for shares of Enbridge in a research note issued to investors on Sunday, November 3rd. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will post earnings per share of $2.02 for the year, down from their prior estimate of $2.05. The consensus estimate for Enbridge’s current full-year earnings is $2.06 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The business had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley started coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday.

Enbridge Trading Up 1.2 %

Shares of ENB opened at $41.54 on Tuesday. Enbridge has a fifty-two week low of $32.76 and a fifty-two week high of $42.16. The company has a market capitalization of $90.45 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 3.97 and a beta of 0.93. The stock has a fifty day moving average of $40.82 and a two-hundred day moving average of $38.12. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.68 and a current ratio of 0.62.

Hedge Funds Weigh In On Enbridge

Large investors have recently modified their holdings of the company. Norden Group LLC acquired a new stake in Enbridge in the 1st quarter valued at $360,000. BNP Paribas Financial Markets raised its holdings in shares of Enbridge by 19.4% during the 1st quarter. BNP Paribas Financial Markets now owns 6,991 shares of the pipeline company’s stock valued at $253,000 after buying an additional 1,136 shares during the period. Mutual Advisors LLC lifted its position in Enbridge by 30.6% during the 1st quarter. Mutual Advisors LLC now owns 42,377 shares of the pipeline company’s stock worth $1,533,000 after acquiring an additional 9,936 shares in the last quarter. Whittier Trust Co. boosted its holdings in Enbridge by 6.3% in the 1st quarter. Whittier Trust Co. now owns 12,253 shares of the pipeline company’s stock worth $443,000 after acquiring an additional 723 shares during the period. Finally, AA Financial Advisors LLC acquired a new stake in Enbridge in the first quarter valued at approximately $203,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 6.51%. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio is presently 122.22%.

Enbridge Company Profile

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.