Q4 EPS Estimates for Enbridge Reduced by US Capital Advisors

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at US Capital Advisors dropped their Q4 2024 EPS estimates for shares of Enbridge in a research report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.54 per share for the quarter, down from their prior estimate of $0.57. The consensus estimate for Enbridge’s current full-year earnings is $2.06 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, November 1st. The pipeline company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.15. Enbridge had a net margin of 13.54% and a return on equity of 9.94%. The firm had revenue of $10.91 billion for the quarter, compared to analysts’ expectations of $4.54 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share.

Several other research analysts have also commented on the company. Morgan Stanley assumed coverage on Enbridge in a report on Friday, October 25th. They set an “equal weight” rating for the company. Wells Fargo & Company raised shares of Enbridge from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group cut shares of Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th.

Enbridge Price Performance

Enbridge stock opened at $42.90 on Thursday. The business has a 50-day simple moving average of $41.57 and a 200 day simple moving average of $38.82. Enbridge has a 52 week low of $32.85 and a 52 week high of $43.70. The stock has a market cap of $93.44 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.18 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.62 and a debt-to-equity ratio of 1.41.

Institutional Investors Weigh In On Enbridge

A number of institutional investors have recently made changes to their positions in the business. Synovus Financial Corp boosted its position in Enbridge by 0.3% during the third quarter. Synovus Financial Corp now owns 273,806 shares of the pipeline company’s stock valued at $11,119,000 after buying an additional 761 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Enbridge in the 3rd quarter valued at about $1,216,000. Sanctuary Advisors LLC boosted its holdings in Enbridge by 7.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 175,166 shares of the pipeline company’s stock valued at $7,578,000 after acquiring an additional 12,084 shares during the period. Anchor Investment Management LLC increased its stake in Enbridge by 0.5% in the 3rd quarter. Anchor Investment Management LLC now owns 123,012 shares of the pipeline company’s stock worth $4,996,000 after purchasing an additional 581 shares during the period. Finally, Passumpsic Savings Bank lifted its position in Enbridge by 2.4% in the third quarter. Passumpsic Savings Bank now owns 11,575 shares of the pipeline company’s stock valued at $470,000 after purchasing an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Enbridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be given a $0.676 dividend. This is an increase from Enbridge’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, November 15th. This represents a $2.70 dividend on an annualized basis and a yield of 6.30%. Enbridge’s payout ratio is presently 121.76%.

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.