Q2 2024 EPS Estimates for Enbridge Inc. (TSE:ENB) Decreased by Atb Cap Markets

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Analysts at Atb Cap Markets cut their Q2 2024 earnings estimates for shares of Enbridge in a research report issued on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings per share of $0.67 for the quarter, down from their prior estimate of $0.71. The consensus estimate for Enbridge’s current full-year earnings is $2.86 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.89 EPS.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings data on Friday, May 10th. The company reported C$0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.81 by C$0.11. The business had revenue of C$11.04 billion for the quarter, compared to the consensus estimate of C$12.24 billion. Enbridge had a net margin of 13.81% and a return on equity of 8.70%.

Several other equities research analysts have also commented on ENB. Stifel Nicolaus cut their price objective on Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a research note on Thursday, April 25th. Jefferies Financial Group increased their price objective on Enbridge from C$53.00 to C$55.00 in a research note on Monday, May 13th. National Bankshares raised their price objective on Enbridge from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Monday, May 13th. CIBC upped their target price on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Finally, BMO Capital Markets raised their price target on shares of Enbridge from C$52.00 to C$54.00 and gave the stock a “market perform” rating in a research note on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$53.63.

Enbridge Stock Up 0.9 %

ENB opened at C$50.72 on Thursday. The company has a market cap of C$108.03 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$52.34. The company has a 50-day moving average price of C$49.06 and a 200 day moving average price of C$48.48. The company has a quick ratio of 0.44, a current ratio of 0.68 and a debt-to-equity ratio of 130.31.

Enbridge Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were paid a $0.915 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.66 annualized dividend and a dividend yield of 7.22%. Enbridge’s dividend payout ratio (DPR) is 138.64%.

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.