FY2024 EPS Estimates for Enbridge Reduced by Atb Cap Markets

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Research analysts at Atb Cap Markets lowered their FY2024 earnings estimates for Enbridge in a research report issued to clients and investors on Thursday, February 6th. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings per share of $1.96 for the year, down from their prior forecast of $1.99. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share. Atb Cap Markets also issued estimates for Enbridge’s Q4 2024 earnings at $0.53 EPS and FY2025 earnings at $2.00 EPS.

A number of other equities analysts have also recently issued reports on ENB. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities started coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $63.00 price target (up 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Stock Up 0.8 %

Shares of NYSE:ENB opened at $44.80 on Monday. 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 52-week low of $32.85 and a 52-week high of $45.78. The company has a market capitalization of $97.60 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 4.08 and a beta of 0.94. The company has a fifty day moving average of $43.20 and a 200-day moving average of $41.48.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ENB. Swiss National Bank raised its stake in Enbridge by 3.2% during the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock worth $267,935,000 after buying an additional 207,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Enbridge by 70.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock worth $52,648,000 after acquiring an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its position in shares of Enbridge by 32.6% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock worth $52,880,000 after acquiring an additional 319,907 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of Enbridge by 8.6% in the 4th quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its position in shares of Enbridge by 8.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

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 paid a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.98%. Enbridge’s payout ratio is 121.76%.

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.