What is Scotiabank's Forecast for Enbridge FY2027 Earnings?

Key Points

• Scotiabank lowered its FY2027 EPS estimate for Enbridge to $2.35 from $2.47, though the firm kept an Outperform rating on the stock.
• Enbridge’s updated forecast remains above the consensus estimate of $2.14 per share for the year, suggesting analysts at Scotiabank still see earnings potential ahead of the market view.
• The company recently beat quarterly expectations, reporting $0.71 EPS versus $0.69 expected and revenue of $9.37 billion versus $8.49 billion expected, while also paying a 7.0% dividend yield.

Enbridge Inc (NYSE:ENB - Free Report) TSE: ENB - Research analysts at Scotiabank dropped their FY2027 EPS estimates for shares of Enbridge in a report issued on Tuesday, July 7th. Scotiabank analyst R. Hope now expects that the pipeline company will post earnings per share of $2.35 for the year, down from their prior estimate of $2.47. Scotiabank currently has a "Outperform" rating on the stock. The consensus estimate for Enbridge's current full-year earnings is $2.14 per share.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB last released its quarterly earnings results on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.The business had revenue of $9.37 billion for the quarter, compared to analysts' expectations of $8.49 billion. During the same quarter in the prior year, the firm posted $1.03 EPS.

ENB has been the subject of a number of other research reports. Wall Street Zen cut Enbridge from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Enbridge in a research report on Friday, May 22nd. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Enbridge in a research note on Monday, May 11th. Finally, Royal Bank Of Canada raised their price target on shares of Enbridge from $76.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Enbridge presently has an average rating of "Moderate Buy" and an average target price of $66.50.

Enbridge Stock Performance

Shares of ENB stock opened at $55.10 on Thursday. The stock has a fifty day moving average price of $55.42 and a 200 day moving average price of $52.58. The stock has a market cap of $120.35 billion, a PE ratio of 25.87 and a beta of 0.58. Enbridge has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Friday, May 15th. Enbridge's dividend payout ratio (DPR) is presently 133.80%.

Institutional Trading of Enbridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arlington Trust Co LLC boosted its position in shares of Enbridge by 114.6% in the second quarter. Arlington Trust Co LLC now owns 500 shares of the pipeline company's stock worth $27,000 after acquiring an additional 267 shares during the last quarter. Triumph Capital Management acquired a new position in Enbridge during the third quarter worth approximately $26,000. Turning Point Benefit Group Inc. acquired a new position in Enbridge during the third quarter worth approximately $28,000. Inspire Investing LLC purchased a new position in Enbridge during the fourth quarter worth approximately $29,000. Finally, Imprint Wealth LLC purchased a new position in Enbridge during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 54.60% of the company's stock.

Enbridge Company Profile

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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