Research Analysts Offer Predictions for Enbridge Q3 Earnings

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Investment analysts at National Bank Financial issued their Q3 2024 EPS estimates for Enbridge in a note issued to investors on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the pipeline company will earn $0.44 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.08 per share.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley started coverage on shares of Enbridge in a report on Friday. They set an “equal weight” rating for the company.

Enbridge Stock Down 0.4 %

NYSE ENB opened at $40.95 on Friday. The business’s fifty day simple moving average is $40.55 and its 200-day simple moving average is $37.68. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. The firm has a market cap of $89.18 billion, a PE ratio of 21.33, a P/E/G ratio of 4.00 and a beta of 0.93. Enbridge has a 52 week low of $31.31 and a 52 week high of $42.16.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. During the same period last year, the company posted $0.51 EPS.

Institutional Trading of Enbridge

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Grove Bank & Trust boosted its stake in 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 buying an additional 279 shares during the period. MFA Wealth Advisors LLC raised its holdings in shares of Enbridge by 55.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after buying an additional 280 shares during the period. TruNorth Capital Management LLC purchased a new position in Enbridge in the 2nd quarter valued at approximately $28,000. William B. Walkup & Associates Inc. purchased a new position in Enbridge in the second quarter valued at $28,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Enbridge during the first quarter worth about $29,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is presently 137.50%.

About Enbridge

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.