Enbridge Inc. Forecasted to Earn Q2 2024 Earnings of $0.49 Per Share (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Atb Cap Markets lowered their Q2 2024 earnings per share (EPS) estimates for Enbridge in a research report issued on Tuesday, July 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings of $0.49 per share for the quarter, down from their previous forecast of $0.52. The consensus estimate for Enbridge’s current full-year earnings is $2.12 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.10 EPS.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $9 billion. Enbridge had a return on equity of 10.53% and a net margin of 13.59%.

Enbridge Trading Up 0.9 %

Shares of ENB opened at $36.67 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.59 and a current ratio of 0.68. Enbridge has a fifty-two week low of $31.03 and a fifty-two week high of $38.37. The firm has a 50 day moving average price of $35.83 and a 200-day moving average price of $35.63. The firm has a market cap of $79.83 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.45 and a beta of 0.92.

Institutional Trading of Enbridge

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its stake in shares of Enbridge by 6.1% in the 1st quarter. Sei Investments Co. now owns 274,235 shares of the pipeline company’s stock valued at $9,922,000 after acquiring an additional 15,650 shares during the last quarter. S.E.E.D. Planning Group LLC boosted its stake in shares of Enbridge by 81.1% during the fourth quarter. S.E.E.D. Planning Group LLC now owns 229,663 shares of the pipeline company’s stock valued at $8,272,000 after purchasing an additional 102,850 shares during the period. Clarius Group LLC increased its stake in shares of Enbridge by 25.2% in the fourth quarter. Clarius Group LLC now owns 8,031 shares of the pipeline company’s stock worth $289,000 after buying an additional 1,617 shares during the period. Private Trust Co. NA raised its holdings in Enbridge by 5.7% during the 4th quarter. Private Trust Co. NA now owns 8,834 shares of the pipeline company’s stock valued at $318,000 after buying an additional 473 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Enbridge by 323.4% during the 4th quarter. International Assets Investment Management LLC now owns 665,413 shares of the pipeline company’s stock valued at $239,680,000 after buying an additional 508,258 shares during the period. 54.60% of the stock is owned by 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.