Enbridge (ENB) Scheduled to Post Quarterly Earnings on Friday

Enbridge (TSE:ENB) (NYSE:ENB) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, May 10th. Analysts expect the company to announce earnings of C$0.80 per share for the quarter.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The company reported C$0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.68 by C($0.04). Enbridge had a return on equity of 9.47% and a net margin of 14.18%. The firm had revenue of C$11.30 billion during the quarter, compared to analyst estimates of C$12.99 billion.

Enbridge Trading Up 1.1 %

ENB opened at C$51.15 on Thursday. Enbridge has a 1-year low of C$42.75 and a 1-year high of C$53.72. The firm has a market capitalization of C$108.95 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. The company has a debt-to-equity ratio of 127.95, a current ratio of 0.83 and a quick ratio of 0.44. The company’s 50 day simple moving average is C$48.20 and its two-hundred day simple moving average is C$47.46.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be paid a $0.915 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.66 annualized dividend and a dividend yield of 7.16%. Enbridge’s dividend payout ratio (DPR) is 128.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ENB shares. National Bankshares raised their target price on Enbridge from C$51.00 to C$52.00 in a report on Thursday, March 7th. Stifel Nicolaus lowered their price target on shares of Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a report on Thursday, April 25th. Royal Bank of Canada decreased their price target on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Jefferies Financial Group dropped their price objective on Enbridge from C$54.00 to C$53.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Finally, Barclays reduced their price objective on Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$52.94.

About Enbridge

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.