FY2024 EPS Estimates for Enbridge Lowered by Atb Cap Markets

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Stock analysts at Atb Cap Markets lowered their FY2024 earnings per share estimates for Enbridge in a research note issued to investors on Thursday, February 6th. Atb Cap Markets analyst N. Heywood now expects that the pipeline company will earn $1.96 per share for the year, down from their prior forecast of $1.99. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share. Atb Cap Markets also issued estimates for Enbridge’s Q4 2024 earnings at $0.53 EPS and FY2025 earnings at $2.00 EPS.

Several other analysts have also issued reports on ENB. Royal Bank of Canada reiterated an “outperform” rating and issued a $63.00 target price (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Morgan Stanley started coverage on shares of Enbridge in a report on Friday, October 25th. They issued an “equal weight” rating for the company. TD Securities began coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, Wells Fargo & Company raised Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $63.00.

Enbridge Stock Performance

ENB opened at $45.29 on Monday. The stock has a market cap of $98.65 billion, a P/E ratio of 20.97, a P/E/G ratio of 4.08 and a beta of 0.94. Enbridge has a 1 year low of $32.85 and a 1 year high of $45.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a fifty day moving average price of $43.23 and a 200 day moving average price of $41.54.

Institutional Investors Weigh In On Enbridge

A number of institutional investors and hedge funds have recently bought and sold shares of ENB. AQR Capital Management LLC purchased a new stake in Enbridge in the 2nd quarter valued at approximately $303,000. Valeo Financial Advisors LLC acquired a new stake in shares of Enbridge in the 3rd quarter worth approximately $230,000. Ritholtz Wealth Management raised its holdings in Enbridge by 46.1% during the third quarter. Ritholtz Wealth Management now owns 56,963 shares of the pipeline company’s stock worth $2,313,000 after purchasing an additional 17,978 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Enbridge in the third quarter valued at $175,000. Finally, CHICAGO TRUST Co NA acquired a new position in shares of Enbridge during the 3rd quarter worth $216,000. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. The ex-dividend date is Friday, February 14th. This represents a $2.68 annualized dividend and a dividend yield of 5.92%. Enbridge’s dividend payout ratio is presently 121.76%.

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.