Enbridge Inc. to Post Q1 2024 Earnings of $0.86 Per Share, Atb Cap Markets Forecasts (TSE:ENB)

Enbridge Inc. (TSE:ENB - Free Report) NYSE: ENB - Analysts at Atb Cap Markets boosted their Q1 2024 earnings per share (EPS) estimates for Enbridge in a note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings per share of $0.86 for the quarter, up from their prior forecast of $0.81. The consensus estimate for Enbridge's current full-year earnings is $2.84 per share. Atb Cap Markets also issued estimates for Enbridge's FY2024 earnings at $2.97 EPS.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group lowered their price target on shares of Enbridge from C$54.00 to C$53.00 and set a "buy" rating on the stock in a report on Wednesday, April 17th. Barclays dropped their price target on shares of Enbridge from C$53.00 to C$51.00 in a research note on Thursday, March 7th. National Bankshares increased their price objective on shares of Enbridge from C$51.00 to C$52.00 in a research report on Thursday, March 7th. Royal Bank of Canada reduced their target price on shares of Enbridge from C$55.00 to C$54.00 and set an "outperform" rating on the stock in a report on Monday, February 12th. Finally, ATB Capital set a C$56.00 price objective on shares of Enbridge and gave the company an "outperform" rating in a report on Friday, January 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$52.94.

Enbridge Stock Performance

Shares of ENB traded down C$0.56 during trading hours on Friday, reaching C$48.96. 9,396,092 shares of the company traded hands, compared to its average volume of 7,229,902. The stock has a market capitalization of C$104.28 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.75 and a beta of 0.89. The company has a quick ratio of 0.44, a current ratio of 0.83 and a debt-to-equity ratio of 127.95. Enbridge has a 12-month low of C$42.75 and a 12-month high of C$54.05. The business has a fifty day moving average price of C$47.80 and a 200-day moving average price of C$47.16.

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

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.915 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $3.66 annualized dividend and a yield of 7.48%. 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.