Wall Street brokerages forecast that Enbridge Inc (NYSE:ENB) (TSE:ENB) will post earnings per share of $0.47 for the current quarter, Zacks reports. Zero analysts have issued estimates for Enbridge’s earnings, with estimates ranging from $0.44 to $0.49. Enbridge posted earnings of $0.49 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 4.1%. The firm is expected to report its next quarterly earnings report on Friday, February 21st.
According to Zacks, analysts expect that Enbridge will report full year earnings of $2.08 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.24. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.99 per share, with EPS estimates ranging from $1.94 to $2.05. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Enbridge.
Enbridge (NYSE:ENB) (TSE:ENB) last announced its earnings results on Friday, November 8th. The pipeline company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Enbridge had a net margin of 12.07% and a return on equity of 8.31%. The business had revenue of $8.79 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the company earned $0.55 earnings per share.
A number of analysts have commented on ENB shares. Wells Fargo & Co upped their target price on shares of Enbridge from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a report on Friday, October 25th. Scotiabank raised shares of Enbridge from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. CIBC reduced their target price on shares of Enbridge from $57.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Barclays lowered shares of Enbridge from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $52.00 to $51.00 in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $46.75.
Several institutional investors and hedge funds have recently bought and sold shares of ENB. First Allied Advisory Services Inc. boosted its position in shares of Enbridge by 9.0% during the third quarter. First Allied Advisory Services Inc. now owns 63,759 shares of the pipeline company’s stock worth $2,245,000 after acquiring an additional 5,278 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of Enbridge by 3.3% during the third quarter. Cetera Advisors LLC now owns 23,360 shares of the pipeline company’s stock worth $823,000 after acquiring an additional 748 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Enbridge by 11.2% during the third quarter. Checchi Capital Advisers LLC now owns 10,997 shares of the pipeline company’s stock worth $386,000 after acquiring an additional 1,109 shares during the last quarter. Tiedemann Advisors LLC boosted its position in shares of Enbridge by 3.5% during the third quarter. Tiedemann Advisors LLC now owns 353,948 shares of the pipeline company’s stock worth $12,418,000 after acquiring an additional 12,126 shares during the last quarter. Finally, Rational Advisors LLC boosted its position in shares of Enbridge by 107.0% during the third quarter. Rational Advisors LLC now owns 1,219 shares of the pipeline company’s stock worth $43,000 after acquiring an additional 630 shares during the last quarter. Institutional investors and hedge funds own 54.18% of the company’s stock.
ENB stock traded up $0.46 during midday trading on Thursday, reaching $38.18. 2,217,783 shares of the company’s stock traded hands, compared to its average volume of 3,597,288. Enbridge has a 52-week low of $28.82 and a 52-week high of $38.77. The stock has a market cap of $76.34 billion, a P/E ratio of 18.62, a PEG ratio of 2.84 and a beta of 0.58. The company has a current ratio of 0.59, a quick ratio of 0.53 and a debt-to-equity ratio of 0.94. The stock’s 50-day moving average is $36.20 and its 200 day moving average is $35.49.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be given a $0.561 dividend. This is a positive change from Enbridge’s previous quarterly dividend of $0.56. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Thursday, November 14th. Enbridge’s dividend payout ratio is presently 109.27%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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