Atb Cap Markets Analysts Raise Earnings Estimates for Enbridge Inc. (NYSE:ENB)

Enbridge Inc. (NYSE:ENB - Free Report) TSE: ENB - Equities research analysts at Atb Cap Markets boosted their Q1 2024 earnings per share (EPS) estimates for Enbridge in a research report issued to clients and investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will post earnings per share of $0.63 for the quarter, up from their previous forecast of $0.60. The consensus estimate for Enbridge's current full-year earnings is $2.14 per share. Atb Cap Markets also issued estimates for Enbridge's FY2024 earnings at $2.17 EPS.

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

A number of other equities analysts also recently commented on ENB. Jefferies Financial Group assumed coverage on Enbridge in a research note on Tuesday, February 27th. They issued a "buy" rating for the company. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They set a "hold" rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $55.20.

Enbridge Stock Performance

ENB stock traded down $0.44 during midday trading on Friday, reaching $35.82. The company had a trading volume of 4,384,025 shares, compared to its average volume of 5,769,161. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The stock has a 50 day moving average price of $35.19 and a 200 day moving average price of $34.80. Enbridge has a fifty-two week low of $31.03 and a fifty-two week high of $40.30. The firm has a market capitalization of $76.15 billion, a PE ratio of 17.06, a P/E/G ratio of 3.34 and a beta of 0.84.

Institutional Investors Weigh In On Enbridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Enbridge by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 83,053,455 shares of the pipeline company's stock worth $2,991,585,000 after buying an additional 1,561,598 shares during the last quarter. TD Asset Management Inc grew its position in Enbridge by 24.9% during the 4th quarter. TD Asset Management Inc now owns 37,749,760 shares of the pipeline company's stock worth $1,365,583,000 after purchasing an additional 7,536,678 shares in the last quarter. 1832 Asset Management L.P. grew its position in Enbridge by 2.5% during the 4th quarter. 1832 Asset Management L.P. now owns 35,289,140 shares of the pipeline company's stock worth $1,271,115,000 after purchasing an additional 846,796 shares in the last quarter. Canoe Financial LP grew its position in Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company's stock worth $1,205,251,000 after purchasing an additional 33,419,164 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Enbridge by 630.3% during the 3rd quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company's stock worth $1,083,938,000 after purchasing an additional 28,076,386 shares in the last quarter. Institutional investors own 54.60% of the company's stock.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. This is a boost from Enbridge's previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $2.71 annualized dividend and a yield of 7.56%. Enbridge's payout ratio is presently 129.05%.

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.