Brokers Offer Predictions for Enbridge Inc.'s Q1 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB - Investment analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of Enbridge in a report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the pipeline company will post earnings of $0.55 per share for the quarter. The consensus estimate for Enbridge's current full-year earnings is $2.14 per share.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last posted its quarterly earnings data on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Enbridge had a net margin of 13.97% and a return on equity of 10.23%. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $9.62 billion.

Other research analysts have also issued reports about the stock. Stifel Nicolaus assumed coverage on shares of Enbridge in a research note on Thursday, January 18th. They set a "hold" rating on the stock. Jefferies Financial Group assumed coverage on shares of Enbridge in a research note on Tuesday, February 27th. They set a "buy" rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $55.20.

Enbridge Stock Up 1.7 %

ENB stock traded up $0.61 during midday trading on Thursday, hitting $36.27. The company's stock had a trading volume of 10,010,606 shares, compared to its average volume of 5,786,456. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.83 and a quick ratio of 0.74. Enbridge has a twelve month low of $31.03 and a twelve month high of $40.30. The company's fifty day moving average price is $35.16 and its 200 day moving average price is $34.78. The stock has a market capitalization of $77.11 billion, a P/E ratio of 17.27, a PEG ratio of 3.32 and a beta of 0.84.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be paid a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 dividend on an annualized basis and a yield of 7.47%. This is a positive change from Enbridge's previous quarterly dividend of $0.66. Enbridge's dividend payout ratio is 129.05%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arkadios Wealth Advisors boosted its holdings in Enbridge by 26.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 7,381 shares of the pipeline company's stock valued at $246,000 after purchasing an additional 1,534 shares during the period. Caprock Group LLC lifted its holdings in shares of Enbridge by 25.2% during the 3rd quarter. Caprock Group LLC now owns 22,323 shares of the pipeline company's stock worth $742,000 after acquiring an additional 4,497 shares during the period. Hennessy Advisors Inc. lifted its holdings in shares of Enbridge by 3.6% during the 3rd quarter. Hennessy Advisors Inc. now owns 669,565 shares of the pipeline company's stock worth $22,223,000 after acquiring an additional 23,000 shares during the period. Blue Fin Capital Inc. lifted its holdings in shares of Enbridge by 7.5% during the 3rd quarter. Blue Fin Capital Inc. now owns 10,075 shares of the pipeline company's stock worth $334,000 after acquiring an additional 702 shares during the period. Finally, Verity & Verity LLC lifted its holdings in shares of Enbridge by 6.3% during the 3rd quarter. Verity & Verity LLC now owns 461,115 shares of the pipeline company's stock worth $14,839,000 after acquiring an additional 27,473 shares during the period. Institutional investors and hedge funds own 54.60% of the company's stock.

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.