National Bank Financial Weighs in on Enbridge Q3 Earnings

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Stock analysts at National Bank Financial issued their Q3 2024 EPS estimates for shares of Enbridge in a report issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings per share of $0.61 for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The company had revenue of C$11.34 billion during the quarter, compared to the consensus estimate of C$5.86 billion.

A number of other research analysts have also commented on ENB. BMO Capital Markets upped their price objective on Enbridge from C$54.00 to C$56.00 in a report on Thursday, September 5th. CIBC upped their price target on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Jefferies Financial Group lowered shares of Enbridge from a “buy” rating to a “hold” rating and increased their target price for the stock from C$55.00 to C$58.00 in a research report on Monday, September 30th. Finally, Morgan Stanley set a C$64.00 target price on shares of Enbridge and gave the stock an “equal weight” rating in a report on Friday. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge has a consensus rating of “Hold” and an average target price of C$56.31.

Enbridge Price Performance

Shares of TSE ENB opened at C$56.93 on Friday. The firm has a market cap of C$124.11 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The business’s 50 day moving average is C$55.15 and its 200-day moving average is C$51.50. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. Enbridge has a 1-year low of C$43.46 and a 1-year high of C$58.28.

Insider Activity at Enbridge

In related news, Director Steven Walter Williams bought 18,600 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of C$53.74 per share, with a total value of C$999,564.00. In other news, Director Steven Walter Williams purchased 18,600 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is owned by insiders.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Thursday, August 15th were given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is 140.77%.

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.