Enbridge Inc. to Post Q1 2024 Earnings of $0.75 Per Share, National Bank Financial Forecasts (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Stock analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for Enbridge in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will earn $0.75 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share.

Enbridge (TSE:ENB) (NYSE:ENB) last released its earnings results on Friday, February 9th. The company reported C$0.64 earnings per share for the quarter, missing the consensus estimate of C$0.68 by C($0.04). The company had revenue of C$11.30 billion during the quarter, compared to analyst estimates of C$12.99 billion. Enbridge had a net margin of 14.18% and a return on equity of 9.47%.

A number of other research firms have also commented on ENB. Royal Bank of Canada dropped their price target on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. ATB Capital set a C$56.00 price target on Enbridge and gave the stock an “outperform” rating in a research report on Friday, January 5th. Stifel Nicolaus dropped their price target on Enbridge from C$52.00 to C$51.00 and set a “hold” rating on the stock in a research report on Thursday. Jefferies Financial Group dropped their price target on Enbridge from C$54.00 to C$53.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Finally, Barclays dropped their price target on Enbridge from C$53.00 to C$51.00 in a research report on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of C$52.94.

Enbridge Trading Down 1.1 %

TSE ENB opened at C$48.96 on Thursday. The firm has a market cap of C$104.28 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.75 and a beta of 0.89. The company has a debt-to-equity ratio of 127.95, a current ratio of 0.83 and a quick ratio of 0.44. The stock’s 50-day moving average is C$47.80 and its 200-day moving average is C$47.16. Enbridge has a one year low of C$42.75 and a one year high of C$54.05.

Enbridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.66 dividend on an annualized basis and a yield of 7.48%. Enbridge’s dividend payout ratio is 128.87%.

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.