Equities Analysts Set Expectations for Enbridge Q3 Earnings

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at Atb Cap Markets reduced their Q3 2024 EPS estimates for Enbridge in a research report issued to clients and investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings per share of $0.37 for the quarter, down from their prior forecast of $0.45. The consensus estimate for Enbridge’s current full-year earnings is $2.08 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $1.99 EPS.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.31% and a return on equity of 10.07%. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the business earned $0.51 earnings per share.

Separately, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Monday, September 30th.

Enbridge Stock Down 0.6 %

Shares of NYSE ENB opened at $41.22 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.77 and a quick ratio of 0.68. Enbridge has a one year low of $31.31 and a one year high of $42.16. The stock has a market capitalization of $87.96 billion, a P/E ratio of 20.92, a PEG ratio of 3.94 and a beta of 0.93. The firm’s 50 day simple moving average is $40.50 and its two-hundred day simple moving average is $37.66.

Enbridge Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Thursday, August 15th were issued a $0.669 dividend. This represents a $2.68 annualized dividend and a dividend yield of 6.49%. The ex-dividend date was Thursday, August 15th. Enbridge’s dividend payout ratio is 134.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. First PREMIER Bank boosted its holdings in Enbridge by 1.7% in the third quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after acquiring an additional 257 shares in the last quarter. Grove Bank & Trust boosted its holdings in Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 279 shares in the last quarter. MFA Wealth Advisors LLC boosted its holdings in Enbridge by 55.6% in the third quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock valued at $32,000 after acquiring an additional 280 shares in the last quarter. Rockwood Wealth Management LLC boosted its holdings in Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 285 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Enbridge by 3.7% in 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 acquiring an additional 298 shares in the last quarter. Institutional investors own 54.60% of the company’s stock.

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.