Enbridge (NYSE:ENB) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Enbridge (NYSE:ENB) (TSE:ENB) announced its quarterly earnings results on Friday. The pipeline company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04, Zacks reports. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same period last year, the business earned $0.92 EPS.

Enbridge Stock Performance

NYSE ENB opened at $46.10 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average is $44.24 and its two-hundred day moving average is $43.31. The stock has a market capitalization of $100.50 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 3.92 and a beta of 0.84. Enbridge has a 12-month low of $34.60 and a 12-month high of $47.08.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Thursday, May 15th will be issued a $0.679 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. Enbridge’s payout ratio is currently 157.56%.

Institutional Trading of Enbridge

An institutional investor recently bought a new position in Enbridge stock. Brighton Jones LLC acquired a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,151 shares of the pipeline company’s stock, valued at approximately $261,000. 54.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ENB shares. Royal Bank of Canada lifted their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Citigroup initiated coverage on shares of Enbridge in a research note on Friday, April 4th. They set a “buy” rating for the company. TD Securities began coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Raymond James raised shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average target price of $67.00.

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.