Enbridge (ENB) to Release Earnings on Friday

Enbridge (TSE:ENB) (NYSE:ENB) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, November 1st. Analysts expect the company to announce earnings of C$0.61 per share for the quarter.

Enbridge (TSE:ENB) (NYSE:ENB) last posted its earnings results on Friday, August 2nd. The company reported C$0.58 earnings per share for the quarter, missing the consensus estimate of C$0.62 by C($0.04). Enbridge had a net margin of 13.54% and a return on equity of 8.57%. The firm had revenue of C$11.34 billion for the quarter, compared to analysts’ expectations of C$5.86 billion.

Enbridge Stock Performance

ENB opened at C$57.04 on Friday. The firm has a fifty day moving average price of C$55.03 and a 200 day moving average price of C$51.40. Enbridge has a 1 year low of C$43.46 and a 1 year high of C$58.28. The stock has a market cap of C$124.35 billion, a P/E ratio of 21.90, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 131.26, a current ratio of 0.76 and a quick ratio of 0.44.

Enbridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th were given a $0.915 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.66 dividend on an annualized basis and a dividend yield of 6.42%. Enbridge’s dividend payout ratio (DPR) is currently 140.77%.

Insider Activity at Enbridge

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ENB shares. CIBC lifted their price target on Enbridge from C$57.00 to C$59.00 in a research note on Monday, July 15th. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating and boosted their price objective for the company from C$55.00 to C$58.00 in a research report on Monday, September 30th. JPMorgan Chase & Co. upped their target price on Enbridge from C$57.00 to C$60.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada lifted their price target on shares of Enbridge from C$55.00 to C$59.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets upped their price objective on shares of Enbridge from C$54.00 to C$56.00 in a research report on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Enbridge currently has an average rating of “Hold” and an average target price of C$55.67.

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.