Analysts Issue Forecasts for Enbridge Inc.’s Q1 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Enbridge in a research report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the pipeline company will post earnings of $0.55 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.14 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $9.62 billion.

ENB has been the subject of a number of other research reports. Stifel Nicolaus assumed coverage on Enbridge in a report on Thursday, January 18th. They issued a “hold” rating for the company. Jefferies Financial Group assumed coverage on Enbridge in a report on Tuesday, February 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Enbridge has an average rating of “Hold” and a consensus target price of $55.20.

Enbridge Stock Down 1.2 %

Shares of ENB opened at $35.82 on Thursday. Enbridge has a 52 week low of $31.03 and a 52 week high of $40.30. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $76.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 3.34 and a beta of 0.84. The stock’s 50-day moving average price is $35.19 and its 200-day moving average price is $34.80.

Enbridge Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be given a $0.677 dividend. This represents a $2.71 annualized dividend and a yield of 7.56%. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Tuesday, May 14th. Enbridge’s dividend payout ratio is presently 129.05%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Triasima Portfolio Management inc. grew its position in Enbridge by 3,424.6% in the first quarter. Triasima Portfolio Management inc. now owns 631,610 shares of the pipeline company’s stock worth $22,825,000 after acquiring an additional 613,690 shares during the period. Advisors Management Group Inc. ADV boosted its position in shares of Enbridge by 0.3% during the first quarter. Advisors Management Group Inc. ADV now owns 193,219 shares of the pipeline company’s stock worth $6,991,000 after buying an additional 662 shares during the period. YHB Investment Advisors Inc. purchased a new position in shares of Enbridge during the first quarter worth $37,000. SlateStone Wealth LLC boosted its position in shares of Enbridge by 23.5% during the first quarter. SlateStone Wealth LLC now owns 14,744 shares of the pipeline company’s stock worth $533,000 after buying an additional 2,801 shares during the period. Finally, Clear Creek Financial Management LLC boosted its position in shares of Enbridge by 67.1% during the first quarter. Clear Creek Financial Management LLC now owns 24,838 shares of the pipeline company’s stock worth $899,000 after buying an additional 9,978 shares during the period. 54.60% of the stock is currently owned by hedge funds and other 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.