US Capital Advisors Comments on Enbridge Inc.’s Q2 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Equities researchers at US Capital Advisors decreased their Q2 2024 EPS estimates for Enbridge in a research report issued to clients and investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $0.44 per share for the quarter, down from their previous estimate of $0.47. The consensus estimate for Enbridge’s current full-year earnings is $2.11 per share. US Capital Advisors also issued estimates for Enbridge’s Q3 2024 earnings at $0.49 EPS, Q4 2024 earnings at $0.62 EPS and FY2025 earnings at $2.32 EPS.

Separately, Jefferies Financial Group initiated coverage on Enbridge in a research report on Tuesday, February 27th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Trading Up 0.8 %

Shares of NYSE:ENB opened at $36.24 on Thursday. The stock has a market capitalization of $77.04 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.46 and a beta of 0.86. The company’s 50-day moving average price is $35.83 and its two-hundred day moving average price is $35.38. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.68 and a quick ratio of 0.59. Enbridge has a one year low of $31.03 and a one year high of $38.37.

Enbridge Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.677 per share. The ex-dividend date is Tuesday, May 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.47%. Enbridge’s payout ratio is presently 136.04%.

Institutional Investors Weigh In On Enbridge

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Enbridge by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 84,280,486 shares of the pipeline company’s stock worth $3,049,268,000 after buying an additional 1,227,031 shares during the period. TD Asset Management Inc lifted its holdings in Enbridge by 0.9% during the 1st quarter. TD Asset Management Inc now owns 38,087,489 shares of the pipeline company’s stock worth $1,377,708,000 after purchasing an additional 337,729 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Enbridge by 3.9% in the 1st quarter. 1832 Asset Management L.P. now owns 36,649,579 shares of the pipeline company’s stock valued at $1,325,982,000 after buying an additional 1,360,439 shares in the last quarter. Canoe Financial LP increased its position in Enbridge by 80,631.1% during the 4th quarter. Canoe Financial LP now owns 33,460,611 shares of the pipeline company’s stock worth $1,205,251,000 after buying an additional 33,419,164 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Enbridge by 630.3% in the third quarter. Wellington Management Group LLP now owns 32,531,108 shares of the pipeline company’s stock valued at $1,083,938,000 after acquiring an additional 28,076,386 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.