FY2024 EPS Estimates for Enbridge Lowered by Analyst

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Analysts at National Bank Financial dropped their FY2024 earnings per share estimates for shares of Enbridge in a research note issued to investors on Sunday, November 3rd. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $2.81 for the year, down from their prior forecast of $2.85. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge’s FY2025 earnings at $2.96 EPS.

ENB has been the subject of several other reports. Raymond James increased their price objective on Enbridge from C$54.00 to C$59.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada raised their price target on Enbridge from C$55.00 to C$59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Morgan Stanley set a C$64.00 price target on Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, National Bankshares raised their price target on Enbridge from C$53.00 to C$57.00 and gave the stock a “sector perform” rating in a research note on Friday, August 23rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average target price of C$56.92.

Enbridge Stock Up 0.1 %

Shares of Enbridge stock opened at C$56.80 on Wednesday. The stock has a 50-day moving average price of C$55.62 and a 200 day moving average price of C$52.00. The company has a market cap of C$123.82 billion, a P/E ratio of 21.85, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a current ratio of 0.76, a quick ratio of 0.44 and a debt-to-equity ratio of 131.26. Enbridge has a 1 year low of C$45.05 and a 1 year high of C$58.28.

Insider Buying and Selling at Enbridge

In other Enbridge news, Senior Officer Maximilian Chan sold 688 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total value of C$37,977.60. In other news, Senior Officer Maximilian Chan sold 688 shares of Enbridge stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of C$55.20, for a total transaction of C$37,977.60. Also, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of C$53.74 per share, for a total transaction of C$999,564.00. Insiders own 0.10% of the company’s stock.

Enbridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 15th will be issued a $0.915 dividend. This represents a $3.66 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date of this dividend is Friday, November 15th. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

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.