Brokers Offer Predictions for Enbridge Inc.’s FY2024 Earnings (TSE:ENB)
Enbridge Inc. (TSE:ENB – Free Report) (NYSE:ENB) – Research analysts at US Capital Advisors upped their FY2024 earnings per share (EPS) estimates for shares of Enbridge in a report released on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now expects that the company will post earnings of $3.06 per share for the year, up from their previous estimate of $3.00. The consensus estimate for Enbridge’s current full-year earnings is $2.81 per share. US Capital Advisors also issued estimates for Enbridge’s Q4 2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $0.72 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.86 EPS and FY2026 earnings at $3.26 EPS.
Other research analysts have also issued reports about the company. National Bankshares raised their price objective on Enbridge from C$51.00 to C$52.00 in a research report on Thursday, March 7th. Jefferies Financial Group lifted their price target on Enbridge from C$53.00 to C$54.00 and gave the company a “buy” rating in a report on Friday, March 8th. Barclays cut their price target on Enbridge from C$53.00 to C$51.00 in a report on Thursday, March 7th. ATB Capital set a C$56.00 price target on Enbridge and gave the company an “outperform” rating in a research note on Friday, January 5th. Finally, Stifel Nicolaus set a C$52.00 price target on Enbridge and gave the company a “hold” rating in a research note on Thursday, January 18th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of C$53.65.
Read Our Latest Stock Analysis on ENB
Enbridge Trading Down 0.5 %
Shares of ENB opened at C$48.42 on Thursday. The stock’s fifty day simple moving average is C$47.59 and its 200 day simple moving average is C$46.74. The company has a current ratio of 0.83, a quick ratio of 0.44 and a debt-to-equity ratio of 127.95. Enbridge has a twelve month low of C$42.75 and a twelve month high of C$54.05. The firm has a market capitalization of C$103.13 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 0.75 and a beta of 0.88.
Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last issued its earnings results on Friday, February 9th. The company reported C$0.64 earnings per share for the quarter, missing the consensus estimate of C$0.68 by C($0.04). The firm had revenue of C$11.30 billion during the quarter, compared to analysts’ expectations of C$12.99 billion. Enbridge had a return on equity of 9.47% and a net margin of 14.18%.
Enbridge Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, March 1st were issued a $0.915 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.56%. This is a positive change from Enbridge’s previous quarterly dividend of $0.89. Enbridge’s dividend payout ratio is presently 128.87%.
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.
Further Reading
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