Enbridge (NYSE:ENB) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB issued its quarterly earnings results on Friday, May 9th. The pipeline company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.04, Zacks reports. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. Enbridge had a return on equity of 10.16% and a net margin of 10.04%. During the same period last year, the company earned $0.92 earnings per share.

Enbridge Trading Down 0.1%

Shares of Enbridge stock traded down $0.03 on Friday, reaching $44.90. 4,018,083 shares of the company were exchanged, compared to its average volume of 4,104,423. Enbridge has a fifty-two week low of $34.60 and a fifty-two week high of $47.08. The firm has a market capitalization of $97.87 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average price of $44.44 and a 200-day moving average price of $43.40.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.679 per share. The ex-dividend date is Thursday, May 15th. This is a positive change from Enbridge's previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 6.05%. Enbridge's dividend payout ratio (DPR) is currently 139.69%.

Hedge Funds Weigh In On Enbridge

A hedge fund recently bought a new stake in Enbridge stock. Brighton Jones LLC bought a new position in Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,151 shares of the pipeline company's stock, valued at approximately $261,000. 54.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ENB. CIBC reaffirmed an "outperform" rating on shares of Enbridge in a research note on Wednesday, March 5th. Raymond James upgraded Enbridge to a "moderate buy" rating in a research report on Wednesday, April 23rd. Citigroup initiated coverage on Enbridge in a research report on Friday, April 4th. They set a "buy" rating on the stock. National Bankshares restated a "sector perform" rating on shares of Enbridge in a report on Monday. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Enbridge in a report on Monday. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $67.00.

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.