Research Analysts Issue Forecasts for Enbridge Q3 Earnings

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Equities research analysts at National Bank Financial issued their Q3 2024 earnings estimates for shares of Enbridge in a research note issued on Wednesday, October 23rd. National Bank Financial analyst P. Kenny expects that the company will earn $0.61 per share 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 EPS 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 business had revenue of C$11.34 billion during the quarter, compared to analyst estimates of C$5.86 billion.

ENB has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price objective on Enbridge from C$57.00 to C$60.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. CIBC raised their price target on shares of Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. BMO Capital Markets lifted their target price on shares of Enbridge from C$54.00 to C$56.00 in a research note on Thursday, September 5th. Royal Bank of Canada increased their price target on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Raymond James raised their target price on shares of Enbridge from C$54.00 to C$59.00 in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Enbridge has an average 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. Enbridge has a one year low of C$43.46 and a one year high of C$58.28. The stock has a market cap of C$124.11 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The business’s fifty day moving average price is C$55.09 and its two-hundred day moving average price is C$51.46. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Insider Buying and Selling at Enbridge

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

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were issued a $0.915 dividend. 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 presently 140.77%.

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.