FY2028 EPS Forecast for Enbridge Boosted by Analyst

Key Points

• US Capital Advisors raised Enbridge’s FY2028 EPS forecast to $2.64 from $2.62 and maintained a “Moderate Buy” rating.
• Enbridge’s latest quarterly results exceeded expectations, with EPS of $0.46 versus the $0.43 consensus and revenue of $9.70 billion versus $8.67 billion expected.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus rating and a $65.88 average price target, while institutional investors own 54.6% of the stock.

Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB - Investment analysts at US Capital Advisors raised their FY2028 earnings per share estimates for shares of Enbridge in a research note issued to investors on Tuesday, October 27th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $2.64 per share for the year, up from their previous forecast of $2.62. US Capital Advisors currently has a "Moderate Buy" rating on the stock. The consensus estimate for Enbridge's current full-year earnings is $2.08 per share.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its earnings results on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $9.70 billion for the quarter, compared to analysts' expectations of $8.67 billion. During the same quarter last year, the business posted $0.65 earnings per share.

Several other equities analysts also recently weighed in on the company. TD raised Enbridge to a "buy" rating in a research report on Tuesday, September 15th. Scotiabank upgraded Enbridge to a "strong-buy" rating in a research report on Thursday, September 17th. Wall Street Zen upgraded shares of Enbridge from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Enbridge in a report on Thursday, October 22nd. Finally, Wolfe Research set a $50.00 price target on shares of Enbridge in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $65.88.

Enbridge Price Performance

Shares of ENB opened at $48.41 on Wednesday. The firm has a 50 day simple moving average of $48.39 and a 200-day simple moving average of $52.09. Enbridge has a 1-year low of $45.03 and a 1-year high of $58.45. The stock has a market cap of $107.91 billion, a price-to-earnings ratio of 25.89 and a beta of 0.60.

Institutional Trading of Enbridge

Several institutional investors have recently made changes to their positions in the stock. GK Wealth Management LLC purchased a new position in Enbridge in the third quarter valued at approximately $25,000. Arlington Trust Co LLC boosted its position in Enbridge by 114.6% during the 2nd quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock worth $27,000 after purchasing an additional 267 shares during the period. Quintet Private Bank Europe S.A. boosted its position in shares of Enbridge by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 600 shares of the pipeline company's stock worth $28,000 after buying an additional 300 shares during the period. City Holding Co. boosted its position in shares of Enbridge by 121.5% in the second quarter. City Holding Co. now owns 649 shares of the pipeline company's stock worth $35,000 after buying an additional 356 shares during the period. Finally, Steigerwald Gordon & Koch Inc. grew its stake in shares of Enbridge by 99.7% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 691 shares of the pipeline company's stock valued at $37,000 after buying an additional 345 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

About Enbridge

Enbridge Inc is a Canadian energy infrastructure company that operates one of the largest pipeline and energy delivery networks in North America. Its businesses transport crude oil and other liquid hydrocarbons, move and store natural gas, and deliver natural gas to residential, commercial and industrial customers.

The company's operations span Canada and the United States, including extensive pipeline systems serving major producing regions, refineries and population centers. Enbridge also develops and operates renewable power assets, including offshore and onshore wind projects, solar facilities and other lower-carbon energy infrastructure.

Enbridge traces its history to the Interprovincial Pipe Line Company, founded in 1949 to transport Canadian crude oil.

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