Enbridge Inc. (TSE:ENB) to Post Q1 2024 Earnings of $0.75 Per Share, National Bank Financial Forecasts

Enbridge Inc. (TSE:ENB - Free Report) NYSE: ENB - Equities researchers at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Enbridge in a note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the company will post earnings of $0.75 per share for the quarter. The consensus estimate for Enbridge's current full-year earnings is $2.84 per share.

Several other research firms have also recently issued reports on ENB. Stifel Nicolaus lowered their price objective on Enbridge from C$52.00 to C$51.00 and set a "hold" rating for the company in a research report on Thursday. Jefferies Financial Group reduced their price objective on Enbridge from C$54.00 to C$53.00 and set a "buy" rating for the company in a research note on Wednesday, April 17th. ATB Capital set a C$56.00 price objective on Enbridge and gave the company an "outperform" rating in a research note on Friday, January 5th. Barclays cut their target price on Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. Finally, National Bankshares increased their target price on Enbridge from C$51.00 to C$52.00 in a research note on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Enbridge presently has a consensus rating of "Moderate Buy" and an average price target of C$53.53.

Enbridge Stock Up 1.4 %

ENB traded up C$0.66 on Thursday, hitting C$49.52. 9,025,690 shares of the company were exchanged, compared to its average volume of 7,203,108. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$54.05. The company has a market cap of C$105.48 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. The company has a current ratio of 0.83, a quick ratio of 0.44 and a debt-to-equity ratio of 127.95. The firm has a 50-day moving average price of C$47.75 and a two-hundred day moving average price of C$47.12.

Enbridge (TSE:ENB - Get Free Report) NYSE: ENB last released 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 company had revenue of C$11.30 billion for the quarter, compared to analyst estimates of C$12.99 billion.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.39%. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge's payout ratio is 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.