Enbridge (ENB) Set to Announce Quarterly Earnings on Friday

Enbridge (TSE:ENB) (NYSE:ENB) is scheduled to be announcing its earnings results before the market opens on Friday, May 10th. Analysts expect the company to announce earnings of C$0.80 per share for the quarter.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings results on Friday, February 9th. The company reported C$0.64 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$11.30 billion during the quarter, compared to the consensus estimate of C$12.99 billion.

Enbridge Stock Performance

Shares of ENB opened at C$50.58 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.83 and a debt-to-equity ratio of 127.95. The business’s 50 day moving average price is C$48.20 and its 200-day moving average price is C$47.46. Enbridge has a 52 week low of C$42.75 and a 52 week high of C$53.72. The stock has a market cap of C$107.74 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.75 and a beta of 0.89.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a $0.915 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.24%. Enbridge’s dividend payout ratio is currently 128.87%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ENB. Royal Bank of Canada decreased their price objective on shares of Enbridge from C$55.00 to C$54.00 and set an “outperform” rating for the company in a report on Monday, February 12th. Stifel Nicolaus decreased their target price on shares of Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. National Bankshares boosted their target price on shares of Enbridge from C$51.00 to C$52.00 in a research note on Thursday, March 7th. Barclays decreased their target price on shares of Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. Finally, Jefferies Financial Group decreased their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge currently has an average rating of “Moderate Buy” and an average target price of C$52.94.

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.