Enbridge FY2024 EPS Cut by National Bank Financial

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Research analysts at National Bank Financial cut their FY2024 earnings estimates for shares of Enbridge in a note issued to investors on Sunday, November 3rd. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $2.81 for the year, down from their prior estimate of $2.85. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge’s FY2025 earnings at $2.96 EPS.

A number of other analysts also recently issued reports on ENB. Wells Fargo & Company upgraded Enbridge from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating and raised their price target for the stock from C$55.00 to C$58.00 in a research note on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on shares of Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge has an average rating of “Hold” and an average target price of C$56.92.

Enbridge Trading Up 1.6 %

Shares of ENB stock opened at C$58.81 on Wednesday. The company has a market cap of C$128.21 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44. The stock’s 50 day simple moving average is C$55.70 and its two-hundred day simple moving average is C$52.08. Enbridge has a 1 year low of C$45.05 and a 1 year high of C$58.99.

Insider Buying and Selling

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

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.915 dividend. This represents a $3.66 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Friday, November 15th. Enbridge’s payout ratio is currently 140.77%.

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.