Atb Cap Markets Equities Analysts Reduce Earnings Estimates for Enbridge Inc. (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Analysts at Atb Cap Markets lowered their Q2 2024 EPS estimates for shares of Enbridge in a research note issued on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will earn $0.67 per share for the quarter, down from their prior estimate of $0.71. The consensus estimate for Enbridge’s current full-year earnings is $2.86 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.89 EPS.

Several other equities research analysts also recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Enbridge from C$45.00 to C$48.00 in a research note on Tuesday, June 4th. BMO Capital Markets boosted their target price on Enbridge from C$52.00 to C$54.00 and gave the stock a “market perform” rating in a report on Monday, May 13th. National Bankshares raised their price target on Enbridge from C$52.00 to C$53.00 and gave the company a “sector perform” rating in a report on Monday, May 13th. Scotiabank lowered Enbridge from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, CIBC raised their price target on shares of Enbridge from C$57.00 to C$59.00 in a report on Monday, July 15th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Enbridge presently has a consensus rating of “Hold” and a consensus price target of C$53.63.

Enbridge Price Performance

Shares of ENB stock opened at C$50.72 on Thursday. The firm has a market cap of C$108.03 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 0.75 and a beta of 0.88. The stock’s fifty day simple moving average is C$49.06 and its 200 day simple moving average is C$48.48. Enbridge has a one year low of C$42.75 and a one year high of C$52.34. The company has a debt-to-equity ratio of 130.31, a current ratio of 0.68 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its quarterly earnings results on Friday, May 10th. The company reported C$0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.81 by C$0.11. Enbridge had a net margin of 13.81% and a return on equity of 8.70%. The firm had revenue of C$11.04 billion during the quarter, compared to analyst estimates of C$12.24 billion.

Enbridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Wednesday, May 15th were given a $0.915 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.22%. Enbridge’s dividend payout ratio is 138.64%.

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.