FY2028 EPS Forecast for Enbridge Increased by Analyst

Enbridge Inc (NYSE:ENB) (TSE:ENB) – Investment analysts at US Capital Advisors lifted their FY2028 earnings per share estimates for Enbridge in a report released on Tuesday, October 27th. US Capital Advisors analyst J. Carreker now anticipates that the pipeline company will earn $2.64 per share for the year, up from their prior estimate of $2.62. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for Enbridge’s current full-year earnings is $2.08 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $9.70 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the business earned $0.65 EPS.

Several other equities research analysts also recently weighed in on ENB. Royal Bank Of Canada boosted their target price on shares of Enbridge from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Scotiabank raised Enbridge to a “strong-buy” rating in a report on Thursday, September 17th. National Bank Financial upgraded Enbridge from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, September 15th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Enbridge in a research note on Thursday, October 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of Enbridge in a research report on Wednesday, September 30th. They issued a “neutral” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.88.

Enbridge Price Performance

ENB opened at $48.41 on Wednesday. Enbridge has a 12-month low of $45.03 and a 12-month high of $58.45. The stock has a market capitalization of $107.91 billion, a PE ratio of 25.89 and a beta of 0.60. The firm’s fifty day moving average price is $48.39 and its 200 day moving average price is $52.09.

Institutional Investors Weigh In On Enbridge

Hedge funds have recently made changes to their positions in the company. Retirement Planning Group LLC grew its position in Enbridge by 3.6% during the 1st quarter. Retirement Planning Group LLC now owns 5,357 shares of the pipeline company’s stock worth $290,000 after purchasing an additional 187 shares in the last quarter. Bank & Trust Co boosted its position in Enbridge by 0.6% during the 2nd quarter. Bank & Trust Co now owns 33,276 shares of the pipeline company’s stock worth $1,804,000 after acquiring an additional 193 shares during the period. Cornerstone Wealth Management LLC grew its stake in Enbridge by 0.6% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 31,543 shares of the pipeline company’s stock valued at $1,710,000 after acquiring an additional 194 shares in the last quarter. PFG Investments LLC grew its stake in Enbridge by 0.9% during the 1st quarter. PFG Investments LLC now owns 22,208 shares of the pipeline company’s stock valued at $1,202,000 after acquiring an additional 202 shares in the last quarter. Finally, Clearwave Capital LLC increased its holdings in shares of Enbridge by 0.9% in the 2nd quarter. Clearwave Capital LLC now owns 22,033 shares of the pipeline company’s stock valued at $1,194,000 after purchasing an additional 204 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

About Enbridge

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company’s operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.