Enbridge Inc. (TSE:ENB) Forecasted to Post Q2 2024 Earnings of $0.64 Per Share

Enbridge Inc. (TSE:ENBFree Report) (NYSE:ENB) – Equities researchers at US Capital Advisors boosted their Q2 2024 earnings per share estimates for Enbridge in a research report issued to clients and investors on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now forecasts that the company will earn $0.64 per share for the quarter, up from their prior estimate of $0.62. The consensus estimate for Enbridge’s current full-year earnings is $2.81 per share. US Capital Advisors also issued estimates for Enbridge’s Q3 2024 earnings at $0.71 EPS and FY2025 earnings at $3.16 EPS.

Several other equities analysts have also issued reports on ENB. Royal Bank of Canada cut their price objective on shares of Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. ATB Capital set a C$56.00 price target on Enbridge and gave the company an “outperform” rating in a report on Friday, January 5th. Jefferies Financial Group lifted their target price on Enbridge from C$53.00 to C$54.00 and gave the company a “buy” rating in a research note on Friday, March 8th. National Bankshares lifted their target price on Enbridge from C$51.00 to C$52.00 in a research note on Thursday, March 7th. Finally, Barclays cut their price objective on shares of Enbridge from C$53.00 to C$51.00 in a research report on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$53.65.

Get Our Latest Stock Analysis on ENB

Enbridge Trading Down 0.4 %

ENB stock opened at C$48.21 on Friday. The company has a market capitalization of C$102.69 billion, a PE ratio of 16.99, a P/E/G ratio of 0.75 and a beta of 0.88. Enbridge has a 12 month low of C$42.75 and a 12 month high of C$54.05. The firm’s 50-day moving average is C$47.57 and its 200 day moving average is C$46.75. The company has a debt-to-equity ratio of 127.95, a current ratio of 0.83 and a quick ratio of 0.44.

Enbridge (TSE:ENBGet Free Report) (NYSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The company reported C$0.64 earnings per share for the quarter, missing the consensus estimate of C$0.68 by C($0.04). Enbridge had a return on equity of 9.47% and a net margin of 14.18%. The business had revenue of C$11.30 billion during the quarter, compared to analysts’ expectations of C$12.99 billion.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.915 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.59%. This is a boost from Enbridge’s previous quarterly dividend of $0.89. Enbridge’s dividend payout ratio is presently 128.87%.

Enbridge Company Profile

(Get Free Report)

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 (TSE:ENB)

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