National Bank Financial Comments on Enbridge Inc’s FY2018 Earnings (ENB)

Enbridge Inc (NYSE:ENB) (TSE:ENB) – National Bank Financial cut their FY2018 earnings per share estimates for Enbridge in a report issued on Thursday. National Bank Financial analyst P. Kenny now anticipates that the pipeline company will earn $2.08 per share for the year, down from their previous forecast of $2.11.

Other analysts have also recently issued reports about the company. Zacks Investment Research raised Enbridge from a “sell” rating to a “hold” rating in a research report on Monday. Canaccord Genuity reaffirmed a “buy” rating and set a $54.00 price objective on shares of Enbridge in a research report on Thursday, November 30th. BidaskClub raised Enbridge from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Morgan Stanley cut their price objective on Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday, November 17th. Finally, GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $52.00.

Enbridge (NYSE ENB) traded down $0.25 during trading on Monday, reaching $38.14. The company’s stock had a trading volume of 2,286,762 shares, compared to its average volume of 4,087,256. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.50 and a current ratio of 0.64. The company has a market cap of $63,351.30, a PE ratio of 24.88, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. Enbridge has a fifty-two week low of $34.39 and a fifty-two week high of $44.51.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The business had revenue of $9.23 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Enbridge had a return on equity of 5.62% and a net margin of 7.49%. During the same period in the previous year, the firm posted $0.47 EPS.

Several hedge funds have recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Enbridge by 8.2% during the second quarter. Capital World Investors now owns 149,378,598 shares of the pipeline company’s stock valued at $5,948,565,000 after purchasing an additional 11,294,003 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Enbridge by 0.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 46,491,107 shares of the pipeline company’s stock valued at $1,945,188,000 after purchasing an additional 279,597 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Enbridge by 3.4% during the third quarter. TD Asset Management Inc. now owns 44,896,840 shares of the pipeline company’s stock valued at $1,871,055,000 after purchasing an additional 1,495,767 shares during the last quarter. Capital International Investors lifted its holdings in shares of Enbridge by 7.8% during the third quarter. Capital International Investors now owns 41,164,593 shares of the pipeline company’s stock valued at $1,721,048,000 after purchasing an additional 2,984,467 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Enbridge by 4.5% during the second quarter. Vanguard Group Inc. now owns 40,741,765 shares of the pipeline company’s stock valued at $1,621,930,000 after purchasing an additional 1,758,679 shares during the last quarter. Hedge funds and other institutional investors own 62.18% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.5278 per share. This represents a $2.11 annualized dividend and a dividend yield of 5.54%. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s dividend payout ratio (DPR) is presently 120.76%.

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Enbridge Company Profile

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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