Enbridge Inc. to Post Q1 2024 Earnings of $0.75 Per Share, National Bank Financial Forecasts (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Research analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for shares of Enbridge in a research note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $0.75 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share.

A number of other equities research analysts have also weighed in on ENB. National Bankshares boosted their target price on Enbridge from C$51.00 to C$52.00 in a research note on Thursday, March 7th. Jefferies Financial Group lowered their target price on Enbridge from C$54.00 to C$53.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada reduced their price target on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Stifel Nicolaus reduced their price target on Enbridge from C$52.00 to C$51.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Barclays reduced their price target on Enbridge from C$53.00 to C$51.00 in a report on Thursday, March 7th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and an average price target of C$52.94.

Enbridge Trading Down 1.1 %

TSE ENB opened at C$48.96 on Thursday. Enbridge has a 1-year low of C$42.75 and a 1-year high of C$54.05. The company has a current ratio of 0.83, a quick ratio of 0.44 and a debt-to-equity ratio of 127.95. The stock has a 50-day moving average of C$47.80 and a 200-day moving average of C$47.16. The firm has a market cap of C$104.28 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89.

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

Enbridge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.915 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.48%. Enbridge’s dividend payout ratio (DPR) is 128.87%.

About Enbridge

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.