Q4 EPS Estimates for Enbridge Lowered by US Capital Advisors

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Research analysts at US Capital Advisors lowered their Q4 2024 EPS estimates for shares of Enbridge in a report released on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.57. The consensus estimate for Enbridge’s current full-year earnings is $2.06 per share.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th.

Enbridge Price Performance

Shares of NYSE ENB opened at $42.90 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $93.44 billion, a PE ratio of 19.86, a PEG ratio of 4.18 and a beta of 0.93. The stock’s 50 day moving average price is $41.57 and its 200-day moving average price is $38.82. Enbridge has a twelve month low of $32.85 and a twelve month high of $43.70.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. The business had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. During the same period in the previous year, the company earned $0.46 earnings per share.

Institutional Investors Weigh In On Enbridge

Several large investors have recently added to or reduced their stakes in the company. TruNorth Capital Management LLC bought a new position in Enbridge during the second quarter worth about $28,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Enbridge during the 2nd quarter valued at approximately $28,000. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% in the 3rd quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock valued at $28,000 after buying an additional 295 shares in the last quarter. Grove Bank & Trust raised its holdings in Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares during the period. Finally, MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% during the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after acquiring an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 6.30%. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. Enbridge’s dividend payout ratio is 121.76%.

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.