National Bank Financial Equities Analysts Lower Earnings Estimates for Enbridge Inc (ENB)
Enbridge Inc (NYSE:ENB) (TSE:ENB) – Investment analysts at National Bank Financial cut their FY2017 earnings estimates for shares of Enbridge in a report issued on Thursday. National Bank Financial analyst P. Kenny now expects that the pipeline company will post earnings per share of $1.65 for the year, down from their prior forecast of $1.74. National Bank Financial also issued estimates for Enbridge’s FY2018 earnings at $2.27 EPS.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.05. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.81 billion. During the same period in the prior year, the business posted $0.50 EPS. ILLEGAL ACTIVITY NOTICE: “National Bank Financial Equities Analysts Lower Earnings Estimates for Enbridge Inc (ENB)” was first posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.dailypolitical.com/2017/08/08/national-bank-financial-equities-analysts-lower-earnings-estimates-for-enbridge-inc-enb.html.
Several other brokerages have also recently issued reports on ENB. Morgan Stanley started coverage on Enbridge in a research report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 target price on the stock. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research cut Enbridge from a “hold” rating to a “strong sell” rating in a research report on Monday, April 24th. Wolfe Research started coverage on Enbridge in a research report on Friday, May 12th. They set a “market perform” rating and a $43.00 target price on the stock. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $54.00.
Enbridge (NYSE ENB) opened at 41.51 on Monday. The firm has a 50-day moving average price of $40.07 and a 200-day moving average price of $41.05. Enbridge has a 52-week low of $37.37 and a 52-week high of $45.77. The company has a market cap of $68.03 billion, a PE ratio of 43.47 and a beta of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.489 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Friday, August 11th. Enbridge’s dividend payout ratio (DPR) is currently 173.79%.
Several large investors have recently bought and sold shares of ENB. HM Payson & Co. boosted its stake in Enbridge by 0.8% in the second quarter. HM Payson & Co. now owns 6,440 shares of the pipeline company’s stock valued at $256,000 after buying an additional 50 shares during the last quarter. FineMark National Bank & Trust boosted its stake in Enbridge by 0.6% in the second quarter. FineMark National Bank & Trust now owns 9,291 shares of the pipeline company’s stock valued at $370,000 after buying an additional 53 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in Enbridge by 0.3% in the second quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,722 shares of the pipeline company’s stock valued at $745,000 after buying an additional 64 shares during the last quarter. Family Legacy Inc. boosted its stake in Enbridge by 1.2% in the second quarter. Family Legacy Inc. now owns 5,781 shares of the pipeline company’s stock valued at $230,000 after buying an additional 68 shares during the last quarter. Finally, Loudon Investment Management LLC boosted its stake in Enbridge by 1.3% in the second quarter. Loudon Investment Management LLC now owns 7,048 shares of the pipeline company’s stock valued at $281,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 63.83% of the company’s stock.
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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