National Bank Financial Equities Analysts Lower Earnings Estimates for Enbridge Inc (TSE:ENB)

Enbridge Inc (TSE:ENB) (NYSE:ENB) – Stock analysts at National Bank Financial dropped their FY2018 earnings estimates for shares of Enbridge in a note issued to investors on Thursday. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $2.84 for the year, down from their previous forecast of $3.14.

A number of other brokerages have also recently weighed in on ENB. Scotiabank reissued an “outperform” rating and set a C$62.00 target price on shares of Enbridge in a report on Monday, May 1st. TD Securities reissued a “buy” rating and set a C$64.00 target price on shares of Enbridge in a report on Wednesday, April 19th. Royal Bank Of Canada dropped their target price on shares of Enbridge from C$67.00 to C$64.00 and set an “outperform” rating on the stock in a report on Monday, June 12th. Finally, GMP Securities dropped their target price on shares of Enbridge from C$64.00 to C$61.25 in a report on Friday, June 16th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Enbridge has a consensus rating of “Buy” and a consensus target price of C$63.94.

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Enbridge (TSE:ENB) traded down 0.23% during trading on Monday, hitting $51.61. 814,903 shares of the company were exchanged. Enbridge has a 12 month low of $49.61 and a 12 month high of $59.19. The company has a market capitalization of $84.58 billion and a price-to-earnings ratio of 42.94. The company has a 50-day moving average of $51.76 and a 200-day moving average of $54.35.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.72%.

In other news, insider Laszlo Varsanyi acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were acquired at an average price of C$51.75 per share, with a total value of C$51,750.00. Also, Director Albert Monaco acquired 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was purchased at an average cost of C$51.11 per share, for a total transaction of C$1,022,200.00. Insiders have sold 28,887 shares of company stock worth $1,227,482 over the last three months.

About Enbridge

Enbridge Inc engages in energy transportation activities in the United States and Canada. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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