Raymond James Weighs in on Enbridge Inc.’s FY2021 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Research analysts at Raymond James boosted their FY2021 earnings estimates for shares of Enbridge in a report released on Monday, May 10th. Raymond James analyst C. Cox now anticipates that the pipeline company will post earnings of $2.20 per share for the year, up from their prior estimate of $2.18.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Thursday, February 11th. The pipeline company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.10. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $10.04 billion. Enbridge had a return on equity of 8.50% and a net margin of 5.57%. During the same quarter last year, the business posted $0.61 EPS.

Other research analysts have also recently issued research reports about the company. National Bank Financial reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, January 27th. CIBC lowered their price objective on Enbridge from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, February 16th. Stifel Nicolaus lowered their price objective on Enbridge from $58.00 to $57.00 and set a “buy” rating for the company in a research note on Tuesday, February 16th. TD Securities lifted their price objective on Enbridge from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, February 16th. Finally, Credit Suisse Group lifted their price objective on Enbridge from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, January 29th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $52.50.

ENB opened at $38.95 on Thursday. The business has a 50 day moving average of $37.70 and a 200-day moving average of $34.24. The stock has a market cap of $78.90 billion, a PE ratio of 54.86, a PEG ratio of 2.48 and a beta of 0.82. Enbridge has a 52 week low of $26.97 and a 52 week high of $40.42. The company has a quick ratio of 0.44, a current ratio of 0.55 and a debt-to-equity ratio of 1.04.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a $0.6778 dividend. The ex-dividend date of this dividend is Thursday, May 13th. This represents a $2.71 annualized dividend and a dividend yield of 6.96%. This is a positive change from Enbridge’s previous quarterly dividend of $0.65. Enbridge’s payout ratio is presently 130.50%.

Several institutional investors and hedge funds have recently modified their holdings of ENB. Lindbrook Capital LLC grew its holdings in shares of Enbridge by 68.6% in the first quarter. Lindbrook Capital LLC now owns 713 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 290 shares during the period. Johnson Midwest Financial LLC bought a new stake in shares of Enbridge in the fourth quarter worth $27,000. McCarthy Asset Management Inc. bought a new stake in shares of Enbridge in the fourth quarter worth $27,000. Reby Advisors LLC bought a new stake in shares of Enbridge in the fourth quarter worth $29,000. Finally, Costello Asset Management INC bought a new stake in Enbridge during the fourth quarter valued at about $31,000. 51.11% of the stock is owned by institutional investors.

Enbridge Company Profile

Enbridge Inc 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.

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Earnings History and Estimates for Enbridge (NYSE:ENB)

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