Enbridge FY2024 EPS Lifted by National Bank Financial

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Equities research analysts at National Bank Financial raised their FY2024 earnings per share (EPS) estimates for shares of Enbridge in a report released on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $2.82 per share for the year, up from their previous forecast of $2.80. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge’s FY2026 earnings at $3.27 EPS and FY2027 earnings at $3.36 EPS.

A number of other brokerages have also recently commented on ENB. Morgan Stanley set a C$64.00 price objective on shares of Enbridge and gave the company an “equal weight” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target on shares of Enbridge from C$59.00 to C$60.00 in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on Enbridge from C$57.00 to C$60.00 in a research report on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on Enbridge from C$66.00 to C$69.00 in a report on Thursday, December 5th. Finally, Royal Bank of Canada raised their price target on Enbridge from C$59.00 to C$63.00 in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge currently has a consensus rating of “Hold” and a consensus price target of C$61.08.

Enbridge Stock Up 1.0 %

ENB opened at C$63.30 on Thursday. Enbridge has a one year low of C$45.05 and a one year high of C$63.40. The company has a market cap of C$137.99 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.72 and a beta of 0.90. The business’s fifty day moving average is C$59.87 and its two-hundred day moving average is C$55.33. The company has a debt-to-equity ratio of 131.26, a quick ratio of 0.44 and a current ratio of 0.76.

Insider Buying and Selling

In other news, Senior Officer Cynthia Lynn Hansen sold 1,106 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of C$59.94, for a total value of C$66,293.64. Corporate insiders own 0.10% of the company’s stock.

Enbridge Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be issued a dividend of $0.9425 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.92. This represents a $3.77 annualized dividend and a dividend yield of 5.96%. Enbridge’s dividend payout ratio is presently 140.77%.

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.