Scotiabank Issues Pessimistic Forecast for Enbridge Earnings

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Research analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for Enbridge in a note issued to investors on Wednesday, January 8th. Scotiabank analyst R. Hope now anticipates that the company will post earnings of $2.81 per share for the year, down from their previous forecast of $2.89. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share. Scotiabank also issued estimates for Enbridge’s FY2025 earnings at $3.07 EPS and FY2026 earnings at $3.19 EPS.

Several other research analysts have also recently weighed in on ENB. Royal Bank of Canada boosted their price objective on shares of Enbridge from C$59.00 to C$63.00 in a report on Wednesday, December 4th. Barclays increased their price target on Enbridge from C$59.00 to C$64.00 in a report on Monday. Wells Fargo & Company lifted their price objective on Enbridge from C$57.00 to C$60.00 in a report on Thursday, December 5th. Raymond James increased their target price on Enbridge from C$59.00 to C$63.00 in a report on Tuesday, November 26th. Finally, BMO Capital Markets boosted their price target on Enbridge from C$59.00 to C$60.00 in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of C$61.33.

Enbridge Price Performance

Shares of TSE:ENB opened at C$62.99 on Friday. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76. The firm has a market cap of C$137.32 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The business has a 50-day simple moving average of C$60.00 and a two-hundred day simple moving average of C$55.44. Enbridge has a fifty-two week low of C$45.05 and a fifty-two week high of C$63.40.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 14th will be issued a $0.9425 dividend. This represents a $3.77 annualized dividend and a yield of 5.99%. This is an increase from Enbridge’s previous quarterly dividend of $0.92. Enbridge’s dividend payout ratio is currently 140.77%.

Insiders Place Their Bets

In other Enbridge news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total transaction of C$66,293.64. 0.10% of the stock is currently owned by company insiders.

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.