Enbridge (TSE:ENB) Announces Quarterly Earnings Results

Enbridge (TSE:ENB) (NYSE:ENB) released its earnings results on Friday. The company reported C$0.98 EPS for the quarter, FiscalAI reports. The firm had revenue of C$22.36 billion for the quarter. Enbridge had a net margin of 9.73% and a return on equity of 11.41%.

Enbridge Stock Performance

ENB stock opened at C$73.33 on Friday. The company has a debt-to-equity ratio of 168.58, a quick ratio of 0.44 and a current ratio of 0.81. The stock has a market cap of C$160.03 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.72 and a beta of 0.87. The firm has a 50 day simple moving average of C$73.70 and a 200 day simple moving average of C$69.12. Enbridge has a 52 week low of C$59.68 and a 52 week high of C$77.18.

Enbridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is currently 117.08%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ENB shares. Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating and raised their target price for the company from C$71.00 to C$76.00 in a research note on Tuesday, February 17th. TD Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating and raised their price objective for the company from C$70.00 to C$72.00 in a research report on Tuesday, February 17th. National Bank Financial raised their price objective on shares of Enbridge from C$71.00 to C$72.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lowered shares of Enbridge from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from C$74.00 to C$69.00 in a research report on Tuesday, January 27th. Finally, ATB Cormark Capital Markets raised their price objective on shares of Enbridge from C$72.00 to C$78.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of C$73.55.

About Enbridge

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.