Atb Cap Markets Weighs in on Enbridge Inc.’s Q4 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Atb Cap Markets lifted their Q4 2024 earnings estimates for Enbridge in a research report issued to clients and investors on Monday, August 5th. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will earn $0.49 per share for the quarter, up from their previous forecast of $0.46. The consensus estimate for Enbridge’s current full-year earnings is $2.12 per share. Atb Cap Markets also issued estimates for Enbridge’s Q1 2025 earnings at $0.74 EPS, Q4 2025 earnings at $0.60 EPS, FY2025 earnings at $2.36 EPS and FY2026 earnings at $2.48 EPS.

Enbridge Stock Performance

NYSE ENB traded up $0.12 on Thursday, hitting $38.85. The stock had a trading volume of 3,740,253 shares, compared to its average volume of 5,478,916. Enbridge has a one year low of $31.03 and a one year high of $38.95. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.35. The stock has a market cap of $82.90 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 3.55 and a beta of 0.92. The company’s 50-day moving average is $36.14 and its two-hundred day moving average is $35.73.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the business earned $0.51 earnings per share.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th will be issued a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.89%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio (DPR) is presently 134.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Investment Advisory LLC lifted its stake in Enbridge by 5.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 280 shares during the last quarter. Rockwood Wealth Management LLC lifted its stake in Enbridge by 2.6% during the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after purchasing an additional 285 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Enbridge by 3.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,269 shares of the pipeline company’s stock valued at $294,000 after purchasing an additional 298 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of Enbridge by 1.7% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 18,237 shares of the pipeline company’s stock valued at $649,000 after acquiring an additional 298 shares in the last quarter. Finally, Perigon Wealth Management LLC lifted its position in shares of Enbridge by 3.7% in the 1st quarter. Perigon Wealth Management LLC now owns 8,827 shares of the pipeline company’s stock valued at $319,000 after acquiring an additional 314 shares in the last quarter. 54.60% of the stock is currently 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.