Scotiabank Issues Optimistic Forecast for Enbridge Earnings

Key Points

• Scotiabank analyst R. Hope nudged up Enbridge's FY2027 EPS estimate to $2.47 (from $2.46) and kept a Outperform rating, versus the Street consensus of $2.24.
• Enbridge recently beat quarterly expectations with EPS of $0.63 (vs. $0.60) and reported $17.18 billion in revenue, with a net margin of about 11.3%.
• Analyst sentiment is largely positive—multiple upgrades and reiterations leave a consensus of Moderate Buy and a $65 price target, while shares trade near $52 with a P/E of ~22.7.

Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB - Research analysts at Scotiabank upped their FY2027 earnings per share (EPS) estimates for Enbridge in a note issued to investors on Friday, April 17th. Scotiabank analyst R. Hope now expects that the pipeline company will earn $2.47 per share for the year, up from their prior estimate of $2.46. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for Enbridge's current full-year earnings is $2.24 per share.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.03. The business had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same period in the prior year, the company posted $0.75 earnings per share.

Other analysts have also recently issued reports about the company. Raymond James Financial upgraded Enbridge to a "moderate buy" rating in a research report on Tuesday, February 17th. Citigroup reiterated a "buy" rating on shares of Enbridge in a research report on Thursday, February 19th. Zacks Research upgraded Enbridge from a "strong sell" rating to a "hold" rating in a research report on Monday, December 29th. Royal Bank Of Canada upped their price target on Enbridge from $72.00 to $76.00 and gave the company an "outperform" rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings upgraded Enbridge from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Enbridge Stock Performance

Shares of NYSE ENB opened at $52.25 on Tuesday. The business has a fifty day simple moving average of $53.39 and a 200 day simple moving average of $49.71. The company has a current ratio of 0.63, a quick ratio of 0.55 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $114.08 billion, a price-to-earnings ratio of 22.72 and a beta of 0.63. Enbridge has a one year low of $43.59 and a one year high of $55.44.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently added to or reduced their stakes in the company. Tsfg LLC boosted its holdings in Enbridge by 329.6% in the third quarter. Tsfg LLC now owns 494 shares of the pipeline company's stock valued at $25,000 after acquiring an additional 379 shares during the last quarter. Triumph Capital Management bought a new position in Enbridge in the third quarter valued at about $26,000. Highline Wealth Partners LLC boosted its holdings in Enbridge by 73.1% in the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company's stock valued at $28,000 after acquiring an additional 236 shares during the last quarter. Turning Point Benefit Group Inc. bought a new position in Enbridge in the third quarter valued at about $28,000. Finally, True Wealth Design LLC boosted its holdings in Enbridge by 588.2% in the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company's stock valued at $30,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 54.60% of the company's stock.

About Enbridge

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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