Equities Analysts Set Expectations for Enbridge Q4 Earnings

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at US Capital Advisors lowered their Q4 2024 earnings per share (EPS) estimates for Enbridge in a research report issued to clients and investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings per share of $0.53 for the quarter, down from their previous forecast of $0.54. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share.

A number of other research firms have also recently weighed in on ENB. TD Securities started coverage on Enbridge in a report on Wednesday, January 15th. They issued a “buy” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $63.00 target price (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Morgan Stanley started coverage on shares of Enbridge in a research note on Friday, October 25th. They set an “equal weight” rating on the stock. Finally, Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Price Performance

ENB stock opened at $43.96 on Wednesday. The firm has a market cap of $95.76 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 0.62. Enbridge has a 1 year low of $32.85 and a 1 year high of $45.78. The stock has a 50-day simple moving average of $43.13 and a 200-day simple moving average of $41.32.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Friday, February 14th. Enbridge’s payout ratio is currently 124.07%.

Institutional Investors Weigh In On Enbridge

Several hedge funds and other institutional investors have recently modified their holdings of the stock. McIlrath & Eck LLC grew its stake in Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 295 shares in the last quarter. Albion Financial Group UT bought a new position in Enbridge during the 4th quarter worth approximately $29,000. Grove Bank & Trust increased its holdings in shares of Enbridge by 56.7% in 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 last quarter. MFA Wealth Advisors LLC raised its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in Enbridge during the third quarter worth $35,000. Institutional investors own 54.60% of the company’s stock.

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.