Brokerages Expect Enbridge Inc. (NYSE:ENB) Will Post Earnings of $0.46 Per Share

Brokerages expect Enbridge Inc. (NYSE:ENB) (TSE:ENB) to announce earnings of $0.46 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Enbridge’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.45. Enbridge reported earnings per share of $0.36 in the same quarter last year, which would suggest a positive year over year growth rate of 27.8%. The company is scheduled to issue its next quarterly earnings results on Friday, November 5th.

According to Zacks, analysts expect that Enbridge will report full year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.13 to $2.37. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.50 per share, with EPS estimates ranging from $2.24 to $2.65. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Enbridge.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Thursday, July 29th. The pipeline company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.11. The business had revenue of $8.91 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a return on equity of 9.24% and a net margin of 14.99%. During the same quarter last year, the business earned $0.56 earnings per share.

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their target price on Enbridge from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Barclays lowered Enbridge from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Tuesday, July 20th. Scotiabank increased their target price on Enbridge from C$54.00 to C$55.00 and gave the company an “outperform” rating in a research note on Thursday, July 8th. BMO Capital Markets increased their target price on Enbridge from C$55.00 to C$57.00 and gave the company an “outperform” rating in a research note on Wednesday, September 8th. Finally, Tudor Pickering reissued a “buy” rating and issued a C$52.00 target price on shares of Enbridge in a research note on Friday, June 11th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $52.08.

Enbridge stock traded down $0.34 during mid-day trading on Tuesday, hitting $39.80. The stock had a trading volume of 2,305,969 shares, compared to its average volume of 4,271,932. The stock has a 50-day simple moving average of $39.32 and a two-hundred day simple moving average of $38.49. The stock has a market capitalization of $80.62 billion, a PE ratio of 17.15, a P/E/G ratio of 2.98 and a beta of 0.86. Enbridge has a 12 month low of $26.97 and a 12 month high of $41.13. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 1.10.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 13th were paid a $0.6645 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $2.66 dividend on an annualized basis and a yield of 6.68%. Enbridge’s dividend payout ratio is 147.51%.

A number of hedge funds have recently bought and sold shares of the business. Parametric Portfolio Associates LLC grew its stake in Enbridge by 5.3% in the second quarter. Parametric Portfolio Associates LLC now owns 840,207 shares of the pipeline company’s stock valued at $33,642,000 after purchasing an additional 42,336 shares in the last quarter. BDO Wealth Advisors LLC raised its position in shares of Enbridge by 222.4% in the second quarter. BDO Wealth Advisors LLC now owns 793 shares of the pipeline company’s stock valued at $32,000 after purchasing an additional 547 shares during the period. OLD Second National Bank of Aurora raised its position in shares of Enbridge by 0.7% in the second quarter. OLD Second National Bank of Aurora now owns 59,925 shares of the pipeline company’s stock valued at $2,400,000 after purchasing an additional 407 shares during the period. Comerica Bank raised its position in shares of Enbridge by 3.7% in the second quarter. Comerica Bank now owns 177,924 shares of the pipeline company’s stock valued at $6,638,000 after purchasing an additional 6,387 shares during the period. Finally, Mariner LLC raised its position in shares of Enbridge by 4.5% in the second quarter. Mariner LLC now owns 43,581 shares of the pipeline company’s stock valued at $1,745,000 after purchasing an additional 1,872 shares during the period. Hedge funds and other institutional investors own 48.05% of the company’s stock.

Enbridge Company Profile

Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

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Earnings History and Estimates for Enbridge (NYSE:ENB)

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