US Capital Advisors Weighs in on Enbridge Inc.’s Q2 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at US Capital Advisors reduced their Q2 2024 earnings estimates for shares of Enbridge in a note issued to investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $0.44 per share for the quarter, down from their previous estimate of $0.47. The consensus estimate for Enbridge’s current full-year earnings is $2.12 per share. US Capital Advisors also issued estimates for Enbridge’s Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.62 EPS and FY2025 earnings at $2.32 EPS.

Separately, Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a “buy” rating for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.20.

Enbridge Trading Down 1.8 %

Enbridge stock opened at $35.96 on Thursday. The firm has a 50 day simple moving average of $35.82 and a 200-day simple moving average of $35.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The stock has a market capitalization of $76.45 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. Enbridge has a 12-month low of $31.03 and a 12-month high of $38.37.

Institutional Trading of Enbridge

Several hedge funds and other institutional investors have recently bought and sold shares of ENB. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Enbridge by 98.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,850 shares of the pipeline company’s stock worth $54,578,000 after acquiring an additional 815,850 shares during the period. S.E.E.D. Planning Group LLC lifted its holdings in shares of Enbridge by 81.1% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock worth $8,272,000 after acquiring an additional 102,850 shares during the period. Clarius Group LLC lifted its holdings in shares of Enbridge by 25.2% during the 4th quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after acquiring an additional 1,617 shares during the period. Private Trust Co. NA lifted its holdings in shares of Enbridge by 5.7% during the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock worth $318,000 after acquiring an additional 473 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Enbridge by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 81,491,857 shares of the pipeline company’s stock worth $2,704,715,000 after acquiring an additional 4,400,848 shares during the period. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.53%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio (DPR) is currently 136.04%.

Enbridge Company Profile

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.