Scotiabank Has Strong Estimate for Enbridge FY2027 Earnings

Key Points

• Scotiabank raised its FY2027 EPS estimate for Enbridge to $2.35 from $2.31 and maintained an “Outperform” rating, above the current-year consensus estimate of $2.11.
• 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.
• The company declared a quarterly dividend of $0.97, equivalent to $3.88 annually and a 7.7% yield; analysts collectively assign the stock a “Moderate Buy” rating with a $67 average price target.

Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB - Research analysts at Scotiabank raised their FY2027 earnings estimates for shares of Enbridge in a note issued to investors on Friday, August 28th. Scotiabank analyst R. Hope now expects that the pipeline company will post earnings per share of $2.35 for the year, up from their prior estimate of $2.31. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for Enbridge's current full-year earnings is $2.11 per share.

A number of other research analysts have also recently weighed in on ENB. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research report on Wednesday, August 19th. Wall Street Zen raised shares of Enbridge from a "sell" rating to a "hold" rating in a research note on Sunday, July 12th. TD Securities reiterated a "hold" rating on shares of Enbridge in a report on Thursday, July 16th. BMO Capital Markets reissued a "market perform" rating on shares of Enbridge in a research report on Monday, August 3rd. Finally, Wolfe Research set a $50.00 price objective on shares of Enbridge in a research report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Enbridge currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Enbridge Stock Up 0.9%

Shares of ENB opened at $50.65 on Tuesday. The company has a market cap of $110.62 billion, a PE ratio of 27.09 and a beta of 0.58. The business has a fifty day moving average of $53.56 and a 200 day moving average of $54.02. Enbridge has a 52-week low of $45.03 and a 52-week high of $58.45. The company has a quick ratio of 0.66, a current ratio of 0.72 and a debt-to-equity ratio of 1.69.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its quarterly earnings data on Friday, July 31st. The pipeline company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $9.70 billion for the quarter, compared to analysts' expectations of $8.67 billion. Enbridge had a return on equity of 11.17% and a net margin of 7.20%.During the same period in the previous year, the firm posted $0.65 earnings per share.

Enbridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $3.88 dividend on an annualized basis and a yield of 7.7%. Enbridge's dividend payout ratio is 147.06%.

Institutional Trading of Enbridge

A number of hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC grew its stake in Enbridge by 24.2% during the 1st quarter. Empowered Funds LLC now owns 110,014 shares of the pipeline company's stock worth $5,956,000 after buying an additional 21,442 shares during the last quarter. SCS Capital Management LLC acquired a new position in shares of Enbridge during the second quarter valued at about $9,204,000. RNC Capital Management LLC increased its holdings in shares of Enbridge by 1.6% during the fourth quarter. RNC Capital Management LLC now owns 1,446,697 shares of the pipeline company's stock valued at $69,196,000 after acquiring an additional 22,637 shares in the last quarter. Western Wealth Management LLC raised its position in shares of Enbridge by 346.8% in the 1st quarter. Western Wealth Management LLC now owns 36,190 shares of the pipeline company's stock valued at $1,959,000 after purchasing an additional 28,091 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in shares of Enbridge in the 2nd quarter valued at approximately $183,623,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Company Profile

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.

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