Enbridge (TSE:ENB) Announces Earnings Results

Enbridge (TSE:ENB) (NYSE:ENB) posted its quarterly earnings data on Friday. The company reported C$0.98 EPS for the quarter, FiscalAI reports. The company had revenue of C$22.36 billion for the quarter. Enbridge had a return on equity of 12.34% and a net margin of 11.50%.

Enbridge Trading Down 0.5%

ENB stock opened at C$73.33 on Friday. The company has a market cap of C$160.03 billion, a P/E ratio of 22.77, a PEG ratio of 1.72 and a beta of 0.87. Enbridge has a twelve month low of C$59.68 and a twelve month high of C$77.18. The company has a quick ratio of 0.44, a current ratio of 0.63 and a debt-to-equity ratio of 170.86. The business has a fifty day moving average of C$73.70 and a 200-day moving average of C$69.12.

Enbridge Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.3%. Enbridge’s payout ratio is presently 117.08%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. National Bank Financial boosted their price objective on Enbridge from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Barclays boosted their price objective on Enbridge from C$68.00 to C$73.00 in a research note on Tuesday, April 7th. Raymond James Financial boosted their price objective on Enbridge from C$75.00 to C$77.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from C$74.00 to C$69.00 in a research note on Tuesday, January 27th. Finally, Scotiabank boosted their price objective on Enbridge from C$73.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$73.55.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.