National Bank Financial Forecasts Enbridge Q4 Earnings

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Research analysts at National Bank Financial issued their Q4 2024 earnings estimates for Enbridge in a report released on Tuesday, January 28th. National Bank Financial analyst P. Kenny anticipates that the pipeline company will post earnings of $0.52 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.15. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The company had revenue of $10.91 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the company earned $0.46 EPS.

ENB has been the topic of several other research reports. TD Securities started coverage on shares of Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating on the stock. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Enbridge has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Trading Up 0.4 %

NYSE ENB opened at $44.45 on Thursday. Enbridge has a 12 month low of $32.85 and a 12 month high of $45.78. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The stock’s fifty day moving average price is $43.09 and its 200-day moving average price is $41.08. The stock has a market cap of $96.82 billion, a P/E ratio of 20.58, a P/E/G ratio of 4.15 and a beta of 0.93.

Enbridge Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.03%. Enbridge’s dividend payout ratio (DPR) is currently 121.76%.

Institutional Trading of Enbridge

A number of hedge funds have recently bought and sold shares of ENB. CIBC Asset Management Inc boosted its holdings in shares of Enbridge by 4.0% in the third quarter. CIBC Asset Management Inc now owns 24,161,024 shares of the pipeline company’s stock worth $984,205,000 after buying an additional 936,863 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Enbridge by 12.8% during the 3rd quarter. National Bank of Canada FI now owns 18,163,353 shares of the pipeline company’s stock worth $737,754,000 after acquiring an additional 2,061,758 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Enbridge by 1.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,142,638 shares of the pipeline company’s stock valued at $655,556,000 after acquiring an additional 176,733 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Enbridge by 27.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,278,739 shares of the pipeline company’s stock worth $498,734,000 after purchasing an additional 2,668,692 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Enbridge by 10.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,125,670 shares of the pipeline company’s stock worth $416,431,000 after purchasing an additional 985,546 shares during the period. Hedge funds and other institutional investors own 54.60% of the company’s stock.

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.