FY2024 EPS Estimates for Enbridge Lowered by Analyst

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Research analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for Enbridge in a report released on Tuesday, December 3rd. National Bank Financial analyst P. Kenny now forecasts that the company will earn $2.80 per share for the year, down from their previous estimate of $2.81. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge’s FY2025 earnings at $3.00 EPS.

A number of other equities analysts also recently weighed in on ENB. CIBC boosted their price target on Enbridge from C$61.00 to C$63.00 in a research report on Wednesday. Royal Bank of Canada boosted their price target on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday. Raymond James boosted their price target on Enbridge from C$59.00 to C$63.00 in a research report on Tuesday, November 26th. Barclays boosted their price target on Enbridge from C$54.00 to C$59.00 in a research report on Monday, November 11th. Finally, BMO Capital Markets upped their target price on Enbridge from C$59.00 to C$60.00 in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$60.31.

Enbridge Price Performance

Shares of TSE ENB opened at C$61.63 on Thursday. The business’s 50 day moving average price is C$57.88 and its two-hundred day moving average price is C$53.49. The company has a market cap of C$134.35 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. Enbridge has a twelve month low of C$45.05 and a twelve month high of C$61.99.

Insider Activity at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. 0.10% of the stock is currently owned by corporate insiders.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be paid a $0.9425 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a dividend yield of 6.12%. Enbridge’s payout ratio is 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.