Analysts Issue Forecasts for Enbridge Inc.’s Q1 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Investment analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Enbridge in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the pipeline company will earn $0.55 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.14 per share.

ENB has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating on the stock. Jefferies Financial Group started coverage on Enbridge in a research note on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.20.

Enbridge Price Performance

Shares of ENB opened at $35.82 on Thursday. The company has a market capitalization of $76.15 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 3.34 and a beta of 0.84. Enbridge has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. The business’s 50-day moving average is $35.19 and its 200-day moving average is $34.80.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $9.62 billion. Enbridge had a net margin of 13.97% and a return on equity of 10.23%.

Institutional Investors Weigh In On Enbridge

A number of large investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC boosted its position in Enbridge by 5.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock worth $203,000 after purchasing an additional 280 shares during the period. North Star Investment Management Corp. boosted its position in Enbridge by 24.6% during the fourth quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock worth $55,000 after purchasing an additional 300 shares during the period. Fifth Third Bancorp boosted its position in Enbridge by 0.4% during the first quarter. Fifth Third Bancorp now owns 86,751 shares of the pipeline company’s stock worth $3,139,000 after purchasing an additional 324 shares during the period. Capital Investment Counsel Inc boosted its position in Enbridge by 5.2% during the fourth quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 326 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in Enbridge by 2.8% during the first quarter. Checchi Capital Advisers LLC now owns 12,506 shares of the pipeline company’s stock worth $452,000 after purchasing an additional 337 shares during the period. Institutional investors own 54.60% of the company’s stock.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a $0.677 dividend. This is a boost from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 annualized dividend and a dividend yield of 7.56%. Enbridge’s payout ratio is presently 129.05%.

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.