Q1 2024 Earnings Forecast for Enbridge Inc. Issued By Atb Cap Markets (NYSE:ENB)

Enbridge Inc. (NYSE:ENBFree Report) (TSE:ENB) – Analysts at Atb Cap Markets dropped their Q1 2024 earnings estimates for Enbridge in a report issued on Sunday, February 11th. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will post earnings of $0.60 per share for the quarter, down from their previous forecast of $0.62. The consensus estimate for Enbridge’s current full-year earnings is $2.15 per share. Atb Cap Markets also issued estimates for Enbridge’s Q3 2024 earnings at $0.51 EPS, Q4 2024 earnings at $0.51 EPS, FY2024 earnings at $2.15 EPS and FY2025 earnings at $2.39 EPS.

Other equities research analysts have also issued research reports about the stock. Barclays lowered their target price on shares of Enbridge from $54.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 18th. Royal Bank of Canada lowered their target price on shares of Enbridge from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, November 6th. Wells Fargo & Company lowered shares of Enbridge from an “equal weight” rating to an “underweight” rating in a report on Wednesday, October 25th. Stifel Nicolaus initiated coverage on shares of Enbridge in a research report on Thursday, January 18th. They issued a “hold” rating for the company. Finally, Wolfe Research downgraded shares of Enbridge from a “peer perform” rating to an “underperform” rating in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge currently has a consensus rating of “Hold” and a consensus target price of $55.20.

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Enbridge Trading Up 2.0 %

ENB opened at $34.90 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.67 and a quick ratio of 0.57. Enbridge has a fifty-two week low of $31.03 and a fifty-two week high of $40.92. The firm has a market capitalization of $74.18 billion, a PE ratio of 16.62, a P/E/G ratio of 3.19 and a beta of 0.85. The company’s 50-day moving average is $35.75 and its 200 day moving average is $34.60.

Enbridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 15th will be given a dividend of $0.659 per share. This is an increase from Enbridge’s previous quarterly dividend of $0.64. This represents a $2.64 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date of this dividend is Wednesday, February 14th. Enbridge’s dividend payout ratio is currently 123.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its holdings in Enbridge by 19.3% in the 2nd quarter. Great West Life Assurance Co. Can now owns 3,309,223 shares of the pipeline company’s stock worth $123,828,000 after buying an additional 536,316 shares during the period. CIBC Asset Management Inc boosted its holdings in Enbridge by 3.6% in the 2nd quarter. CIBC Asset Management Inc now owns 18,616,583 shares of the pipeline company’s stock worth $692,463,000 after buying an additional 652,769 shares during the period. National Bank of Canada FI boosted its holdings in Enbridge by 6.1% in the 3rd quarter. National Bank of Canada FI now owns 18,189,412 shares of the pipeline company’s stock worth $581,882,000 after buying an additional 1,041,308 shares during the period. Barclays PLC boosted its holdings in Enbridge by 15.3% in the 2nd quarter. Barclays PLC now owns 538,926 shares of the pipeline company’s stock worth $20,022,000 after buying an additional 71,322 shares during the period. Finally, abrdn plc boosted its holdings in Enbridge by 85.6% in the 3rd quarter. abrdn plc now owns 1,098,700 shares of the pipeline company’s stock worth $36,466,000 after buying an additional 506,800 shares during the period. 48.29% of the stock is owned by institutional investors.

About Enbridge

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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.

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Earnings History and Estimates for Enbridge (NYSE:ENB)

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