Research Analysts Offer Predictions for Enbridge Q4 Earnings

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Equities research analysts at National Bank Financial issued their Q4 2024 EPS estimates for Enbridge in a research note issued on Tuesday, January 28th. National Bank Financial analyst P. Kenny anticipates that the pipeline company will post earnings of $0.52 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share.

A number of other equities research analysts have also issued reports on ENB. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Finally, Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Performance

NYSE:ENB opened at $44.45 on Thursday. The stock has a 50-day moving average price of $43.09 and a 200 day moving average price of $41.08. The stock has a market capitalization of $96.82 billion, a P/E ratio of 20.58, a P/E/G ratio of 4.15 and a beta of 0.93. Enbridge has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41.

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

Hedge Funds Weigh In On Enbridge

Institutional investors and hedge funds have recently made changes to their positions in the business. McIlrath & Eck LLC lifted its holdings in shares of Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new stake in Enbridge during the fourth quarter valued at approximately $29,000. Grove Bank & Trust lifted its stake in shares of Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC increased its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 280 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Enbridge during the 3rd quarter valued at approximately $35,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is 121.76%.

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.