Brokerages predict that Enbridge Inc (NYSE:ENB) (TSE:ENB) will report $0.45 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Enbridge’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.41. Enbridge reported earnings per share of $0.48 in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.2%. The firm is scheduled to announce its next earnings report before the market opens on Friday, February 15th.
On average, analysts expect that Enbridge will report full-year earnings of $2.05 per share for the current financial year, with EPS estimates ranging from $1.85 to $2.28. For the next year, analysts forecast that the company will post earnings of $1.72 per share, with EPS estimates ranging from $1.43 to $2.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Enbridge.
A number of equities analysts have issued reports on the stock. ValuEngine cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday. UBS Group cut shares of Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. Zacks Investment Research cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Evercore ISI assumed coverage on shares of Enbridge in a research report on Tuesday, February 5th. They issued an “outperform” rating on the stock. Finally, Macquarie assumed coverage on shares of Enbridge in a research report on Thursday, January 24th. They issued an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Enbridge currently has a consensus rating of “Buy” and an average target price of $48.80.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in Enbridge by 6.3% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,767,200 shares of the pipeline company’s stock worth $73,657,000 after acquiring an additional 105,000 shares in the last quarter. Morgan Stanley boosted its stake in Enbridge by 11.0% during the third quarter. Morgan Stanley now owns 4,787,632 shares of the pipeline company’s stock worth $154,592,000 after acquiring an additional 472,660 shares in the last quarter. Stock Yards Bank & Trust Co. boosted its stake in Enbridge by 25.7% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 9,448 shares of the pipeline company’s stock worth $294,000 after acquiring an additional 1,930 shares in the last quarter. Osher Van de Voorde Investment Management boosted its stake in Enbridge by 2.2% during the third quarter. Osher Van de Voorde Investment Management now owns 192,824 shares of the pipeline company’s stock worth $6,226,000 after acquiring an additional 4,164 shares in the last quarter. Finally, Nachman Norwood & Parrott Inc bought a new stake in Enbridge during the fourth quarter worth about $2,264,000. 49.65% of the stock is currently owned by hedge funds and other institutional investors.
ENB stock opened at $35.91 on Thursday. Enbridge has a 12-month low of $28.82 and a 12-month high of $37.69. The stock has a market capitalization of $72.13 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 2.20 and a beta of 0.69. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.49 and a current ratio of 0.59.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be paid a dividend of $0.555 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, February 14th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 6.18%. Enbridge’s payout ratio is presently 131.82%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, 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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