Zacks: Analysts Expect Enbridge Inc. (NYSE:ENB) Will Post Earnings of $0.47 Per Share

Brokerages predict that Enbridge Inc. (NYSE:ENB) (TSE:ENB) will post earnings of $0.47 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Enbridge’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.46. Enbridge posted earnings per share of $0.41 during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.6%. The business is expected to issue its next earnings report on Wednesday, August 4th.

On average, analysts expect that Enbridge will report full-year earnings of $2.09 per share for the current year, with EPS estimates ranging from $1.94 to $2.20. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.44 per share, with EPS estimates ranging from $2.36 to $2.52. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow Enbridge.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Thursday, February 11th. The pipeline company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.10. Enbridge had a return on equity of 8.50% and a net margin of 5.57%. The company had revenue of $7.68 billion during the quarter, compared to analyst estimates of $10.04 billion. During the same quarter last year, the company earned $0.61 EPS.

Several brokerages recently commented on ENB. Wells Fargo & Company increased their price objective on shares of Enbridge from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus reduced their price target on shares of Enbridge from $58.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, February 16th. CIBC decreased their price objective on shares of Enbridge from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Tuesday, February 16th. National Bank Financial reiterated an “outperform” rating on shares of Enbridge in a research note on Wednesday, January 27th. Finally, Credit Suisse Group boosted their price target on Enbridge from $48.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, January 29th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $52.50.

Shares of NYSE:ENB traded down $1.44 on Thursday, hitting $38.39. 8,901,309 shares of the company traded hands, compared to its average volume of 4,685,036. The stock has a 50 day simple moving average of $37.67 and a 200-day simple moving average of $34.19. The company has a quick ratio of 0.44, a current ratio of 0.55 and a debt-to-equity ratio of 1.04. The company has a market cap of $77.76 billion, a PE ratio of 54.07, a PEG ratio of 2.48 and a beta of 0.82. Enbridge has a 52 week low of $26.97 and a 52 week high of $40.42.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a $0.6778 dividend. The ex-dividend date is Thursday, May 13th. This represents a $2.71 annualized dividend and a dividend yield of 7.06%. This is a positive change from Enbridge’s previous quarterly dividend of $0.65. Enbridge’s payout ratio is presently 130.50%.

A number of hedge funds have recently bought and sold shares of the business. Addenda Capital Inc. lifted its stake in shares of Enbridge by 1.1% in the 4th quarter. Addenda Capital Inc. now owns 2,011,579 shares of the pipeline company’s stock worth $64,281,000 after purchasing an additional 21,074 shares during the period. Archford Capital Strategies LLC grew its position in shares of Enbridge by 5.7% during the 4th quarter. Archford Capital Strategies LLC now owns 24,041 shares of the pipeline company’s stock valued at $802,000 after acquiring an additional 1,292 shares during the period. Foundations Investment Advisors LLC increased its stake in shares of Enbridge by 35.2% in the 1st quarter. Foundations Investment Advisors LLC now owns 89,672 shares of the pipeline company’s stock worth $3,295,000 after purchasing an additional 23,351 shares in the last quarter. Latitude Advisors LLC bought a new position in Enbridge in the 4th quarter worth $1,024,000. Finally, First Bank & Trust lifted its position in Enbridge by 37.8% during the first quarter. First Bank & Trust now owns 59,696 shares of the pipeline company’s stock valued at $2,172,000 after purchasing an additional 16,369 shares in the last quarter. 51.11% of the stock is currently owned by institutional investors.

About Enbridge

Enbridge Inc 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.

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Earnings History and Estimates for Enbridge (NYSE:ENB)

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