Enbridge (NYSE:ENB) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Enbridge reported a quarterly earnings per share (EPS) of $0.47, beating estimates by $0.06, but revenue fell short at $7.14 billion against expectations of $10.56 billion.
• The company announced a quarterly dividend of $0.6839, reflecting a modest increase from the previous dividend and a yield of 5.9%.
• Enbridge shares have received upgrades from various analysts, with a consensus price target of $67.00 and an overall rating of "Moderate Buy".

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB issued its quarterly earnings results on Friday. The pipeline company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06, Zacks reports. Enbridge had a net margin of 10.16% and a return on equity of 10.41%. The business had revenue of $7.14 billion for the quarter, compared to analysts' expectations of $10.56 billion. During the same quarter last year, the company posted $0.58 EPS.

Enbridge Stock Performance

Shares of NYSE ENB opened at $46.18 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.66 and a current ratio of 0.73. The company has a market cap of $100.69 billion, a P/E ratio of 23.80, a P/E/G ratio of 4.22 and a beta of 0.79. The firm's fifty day moving average is $45.39 and its two-hundred day moving average is $44.55. Enbridge has a 52-week low of $36.50 and a 52-week high of $47.44.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 15th will be issued a $0.6839 dividend. The ex-dividend date is Friday, August 15th. This represents a $2.74 dividend on an annualized basis and a yield of 5.9%. This is an increase from Enbridge's previous quarterly dividend of $0.68. Enbridge's payout ratio is presently 141.24%.

Institutional Trading of Enbridge

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

Analyst Ratings Changes

A number of research analysts recently weighed in on ENB shares. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Royal Bank Of Canada restated an "outperform" rating and set a $67.00 target price on shares of Enbridge in a research note on Monday, May 12th. BMO Capital Markets restated a "market perform" rating on shares of Enbridge in a research note on Monday, May 12th. Jefferies Financial Group upgraded shares of Enbridge from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Finally, Citigroup started coverage on shares of Enbridge in a research note on Friday, April 4th. They set a "buy" rating on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Enbridge presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

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.

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