Q1 2024 EPS Estimates for Enbridge Inc. Increased by Atb Cap Markets (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Stock analysts at Atb Cap Markets upped their Q1 2024 earnings per share estimates for Enbridge in a report released on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of $0.86 per share for the quarter, up from their prior estimate of $0.81. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.97 EPS.

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 the consensus estimate of C$0.68 by C($0.04). The firm had revenue of C$11.30 billion during the quarter, compared to analyst estimates of C$12.99 billion. Enbridge had a net margin of 14.18% and a return on equity of 9.47%.

A number of other equities research analysts have also issued reports on ENB. Jefferies Financial Group decreased their price target on shares of Enbridge from C$54.00 to C$53.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Stifel Nicolaus lowered their target price on Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a research note on Thursday. ATB Capital set a C$56.00 price target on Enbridge and gave the company an “outperform” rating in a research report on Friday, January 5th. National Bankshares boosted their price objective on Enbridge from C$51.00 to C$52.00 in a research report on Thursday, March 7th. Finally, Barclays cut their target price on shares of Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$52.94.

Enbridge Trading Down 1.1 %

TSE ENB opened at C$48.96 on Friday. The company has a debt-to-equity ratio of 127.95, a quick ratio of 0.44 and a current ratio of 0.83. The firm has a market cap of C$104.28 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.75 and a beta of 0.89. The firm has a 50 day simple moving average of C$47.80 and a 200-day simple moving average of C$47.18. Enbridge has a one year low of C$42.75 and a one year high of C$54.05.

Enbridge Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a $0.915 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.66 annualized dividend and a yield of 7.48%. Enbridge’s dividend payout ratio is presently 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.