Enbridge (NYSE:ENB) Posts Earnings Results, Beats Expectations By $0.23 EPS

Enbridge (NYSE:ENB) (TSE:ENB) issued its quarterly earnings data on Friday. The pipeline company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23, Briefing.com reports. Enbridge had a return on equity of 9.94% and a net margin of 13.54%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business posted $0.64 EPS.

Enbridge Stock Performance

Shares of Enbridge stock traded down $2.33 on Friday, reaching $43.13. 5,862,322 shares of the stock were exchanged, compared to its average volume of 4,078,409. The business has a 50 day moving average price of $43.33 and a two-hundred day moving average price of $41.70. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $93.95 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 4.08 and a beta of 0.94. Enbridge has a twelve month low of $32.85 and a twelve month high of $45.78.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Saturday, February 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date is Friday, February 14th. Enbridge’s dividend payout ratio (DPR) is 121.76%.

Wall Street Analyst Weigh In

A number of research firms have commented on ENB. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 price target (up from $59.00) on shares of Enbridge in a research note on Wednesday, December 4th. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. TD Securities began coverage on Enbridge in a research note on Wednesday, January 15th. They issued a “buy” rating for the company. Finally, Morgan Stanley began coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.