Enbridge (NYSE:ENB) Posts Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Enbridge (NYSE:ENB) (TSE:ENB) issued its quarterly earnings results on Friday. The pipeline company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.52 by $0.23, Briefing.com reports. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the business earned $0.64 earnings per share.

Enbridge Stock Down 5.1 %

Shares of ENB traded down $2.33 during mid-day trading on Friday, reaching $43.13. The company’s stock had a trading volume of 5,862,322 shares, compared to its average volume of 4,078,409. Enbridge has a 12-month low of $32.85 and a 12-month high of $45.78. The stock has a market cap of $93.95 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. 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 company’s 50 day moving average is $43.33 and its 200 day moving average is $41.70.

Enbridge Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. Enbridge’s payout ratio is currently 121.76%.

Wall Street Analyst Weigh In

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

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.