Enbridge Inc (ENB) Expected to Post Earnings of $0.58 Per Share
Wall Street analysts forecast that Enbridge Inc (NYSE:ENB) (TSE:ENB) will report earnings per share (EPS) of $0.58 for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Enbridge’s earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.60. Enbridge reported earnings per share of $0.55 in the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The business is expected to issue its next earnings results on Thursday, May 11th.
On average, analysts expect that Enbridge will report full year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.69 to $2.17. For the next financial year, analysts anticipate that the business will post earnings of $2.06 per share, with EPS estimates ranging from $1.85 to $2.40. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Enbridge.
Enbridge (NYSE:ENB) last posted its earnings results on Friday, February 17th. The pipeline company reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.02. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same quarter last year, the business earned $0.58 earnings per share.
ENB has been the subject of several research analyst reports. Credit Suisse Group AG initiated coverage on shares of Enbridge in a research note on Tuesday, March 14th. They issued an “outperform” rating and a $70.00 price objective for the company. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, January 3rd. Citigroup Inc restated a “neutral” rating on shares of Enbridge in a research note on Wednesday, January 18th. Finally, Wells Fargo & Co restated a “market perform” rating on shares of Enbridge in a research note on Friday, March 31st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $58.00.
Enbridge (NYSE:ENB) traded down 1.13% during midday trading on Tuesday, hitting $42.15. The stock had a trading volume of 2,836,169 shares. Enbridge has a 12 month low of $38.40 and a 12 month high of $45.77. The stock has a 50 day moving average of $41.52 and a 200 day moving average of $42.43. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of 29.31 and a beta of 0.62.
Several large investors have recently made changes to their positions in the stock. Shell Asset Management Co. boosted its stake in shares of Enbridge by 1.9% in the third quarter. Shell Asset Management Co. now owns 142,531 shares of the pipeline company’s stock worth $8,267,000 after buying an additional 2,707 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Enbridge by 26.0% in the third quarter. Great West Life Assurance Co. Can now owns 7,093,247 shares of the pipeline company’s stock worth $311,971,000 after buying an additional 1,463,316 shares during the last quarter. Baskin Financial Services Inc. boosted its stake in shares of Enbridge by 9.8% in the third quarter. Baskin Financial Services Inc. now owns 5,791 shares of the pipeline company’s stock worth $255,000 after buying an additional 516 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new stake in shares of Enbridge during the third quarter worth approximately $102,000. Finally, OTA Financial Group L.P. acquired a new stake in shares of Enbridge during the third quarter worth approximately $552,000. 71.79% of the stock is owned by institutional investors and hedge funds.
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Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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