Equities Analysts Issue Forecasts for Enbridge Inc.’s Q2 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Investment analysts at Atb Cap Markets lowered their Q2 2024 earnings estimates for shares of Enbridge in a research note issued on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the pipeline company will earn $0.49 per share for the quarter, down from their previous estimate of $0.52. The consensus estimate for Enbridge’s current full-year earnings is $2.12 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.10 EPS.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.09. Enbridge had a return on equity of 10.53% and a net margin of 13.59%. The company had revenue of $8.19 billion during the quarter, compared to analyst estimates of $9 billion.

Enbridge Trading Up 0.9 %

Shares of NYSE ENB opened at $36.67 on Thursday. The business has a fifty day moving average price of $35.83 and a 200 day moving average price of $35.63. Enbridge has a 1-year low of $31.03 and a 1-year high of $38.37. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. The stock has a market capitalization of $79.83 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 3.45 and a beta of 0.92.

Institutional Trading of Enbridge

A number of institutional investors have recently modified their holdings of ENB. K.J. Harrison & Partners Inc increased its position in shares of Enbridge by 87.1% during the second quarter. K.J. Harrison & Partners Inc now owns 216,891 shares of the pipeline company’s stock worth $7,712,000 after purchasing an additional 100,975 shares in the last quarter. TI Trust Inc. boosted its holdings in Enbridge by 3.9% in the second quarter. TI Trust Inc. now owns 19,876 shares of the pipeline company’s stock worth $707,000 after acquiring an additional 750 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Enbridge by 3.3% during the second quarter. Harbour Investments Inc. now owns 17,193 shares of the pipeline company’s stock valued at $612,000 after acquiring an additional 555 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Enbridge by 8.7% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 37,441 shares of the pipeline company’s stock valued at $1,333,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in Enbridge by 82.7% in the 2nd quarter. Atomi Financial Group Inc. now owns 17,518 shares of the pipeline company’s stock worth $623,000 after purchasing an additional 7,928 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors.

About Enbridge

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.