Enbridge FY2024 EPS Lowered by National Bank Financial

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – National Bank Financial dropped their FY2024 earnings estimates for Enbridge in a research report issued to clients and investors on Sunday, November 3rd. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $2.81 per share for the year, down from their prior estimate of $2.85. The consensus estimate for Enbridge’s current full-year earnings is $3.51 per share. National Bank Financial also issued estimates for Enbridge’s FY2025 earnings at $2.96 EPS.

ENB has been the topic of a number of other research reports. BMO Capital Markets boosted their price objective on Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Morgan Stanley set a C$64.00 price objective on Enbridge and gave the stock an “equal weight” rating in a research note on Friday, October 25th. CIBC increased their price target on Enbridge from C$59.00 to C$67.00 in a report on Monday. JPMorgan Chase & Co. raised their price objective on shares of Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, National Bankshares boosted their target price on Enbridge from C$53.00 to C$57.00 and gave the company a “sector perform” rating in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$56.92.

Enbridge Price Performance

ENB stock opened at C$57.91 on Wednesday. Enbridge has a 12 month low of C$45.05 and a 12 month high of C$58.28. The firm has a market cap of C$126.24 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.76 and a debt-to-equity ratio of 131.26. The company’s 50-day moving average price is C$55.70 and its two-hundred day moving average price is C$52.08.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Sunday, December 1st will be paid a $0.915 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.32%. Enbridge’s dividend payout ratio (DPR) is 140.77%.

Insider Activity

In other news, Senior Officer Maximilian Chan sold 688 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total transaction of C$37,977.60. In related news, Director Steven Walter Williams acquired 18,600 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$53.74 per share, with a total value of C$999,564.00. Also, Senior Officer Maximilian Chan sold 688 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of C$55.20, for a total value of C$37,977.60. 0.10% of the stock is currently owned by corporate insiders.

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.