Enbridge Inc. Expected to Post FY2024 Earnings of $3.06 Per Share (TSE:ENB)

Enbridge Inc. (TSE:ENB - Free Report) NYSE: ENB - US Capital Advisors boosted their FY2024 earnings estimates for shares of Enbridge in a report issued on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now expects that the company will post earnings per share of $3.06 for the year, up from their previous estimate of $3.00. The consensus estimate for Enbridge's current full-year earnings is $2.81 per share. US Capital Advisors also issued estimates for Enbridge's Q4 2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.86 EPS and FY2026 earnings at $3.26 EPS.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last announced its earnings results on Friday, February 9th. The company reported C$0.64 EPS for the quarter, missing the consensus estimate of C$0.68 by C($0.04). Enbridge had a return on equity of 9.47% and a net margin of 14.18%. The firm had revenue of C$11.30 billion during the quarter, compared to analyst estimates of C$12.99 billion.

Several other equities analysts have also weighed in on ENB. ATB Capital set a C$56.00 price objective on shares of Enbridge and gave the company an "outperform" rating in a research report on Friday, January 5th. Stifel Nicolaus set a C$52.00 price objective on shares of Enbridge and gave the company a "hold" rating in a research report on Thursday, January 18th. Royal Bank of Canada cut their price objective on shares of Enbridge from C$55.00 to C$54.00 and set an "outperform" rating on the stock in a research report on Monday, February 12th. Barclays cut their price objective on shares of Enbridge from C$53.00 to C$51.00 in a research report on Thursday, March 7th. Finally, National Bankshares raised their price objective on shares of Enbridge from C$51.00 to C$52.00 in a research report on Thursday, March 7th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Enbridge currently has a consensus rating of "Moderate Buy" and an average price target of C$53.65.

Enbridge Stock Down 0.5 %

Shares of ENB stock traded down C$0.25 during trading on Thursday, hitting C$48.42. 3,601,623 shares of the company were exchanged, compared to its average volume of 7,308,883. The company has a debt-to-equity ratio of 127.95, a quick ratio of 0.44 and a current ratio of 0.83. The firm has a market capitalization of C$103.13 billion, a price-to-earnings ratio of 17.05, a P/E/G ratio of 0.75 and a beta of 0.88. The business's 50-day simple moving average is C$47.59 and its 200 day simple moving average is C$46.74. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$54.05.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, March 1st were issued a $0.915 dividend. This is an increase from Enbridge's previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a yield of 7.56%. The ex-dividend date of this dividend was Wednesday, February 14th. Enbridge's payout ratio is presently 128.87%.

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.