Q4 EPS Estimates for Enbridge Lowered by US Capital Advisors

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Stock analysts at US Capital Advisors lowered their Q4 2024 earnings per share (EPS) estimates for Enbridge in a report issued on Monday, February 3rd. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $0.53 per share for the quarter, down from their prior estimate of $0.54. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share.

Several other brokerages have also recently commented on ENB. TD Securities assumed coverage on shares of Enbridge in a research report on Wednesday, January 15th. They issued a “buy” rating on the stock. Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and an average target price of $63.00.

Enbridge Trading Up 0.5 %

Enbridge stock opened at $43.96 on Wednesday. Enbridge has a 12-month low of $32.85 and a 12-month high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The stock has a market capitalization of $95.76 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The firm has a 50 day simple moving average of $43.13 and a 200-day simple moving average of $41.32.

Institutional Investors Weigh In On Enbridge

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

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Saturday, February 15th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.10%. Enbridge’s payout ratio is presently 124.07%.

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.