National Bank Financial Analysts Lower Earnings Estimates for Enbridge Inc (ENB)
Enbridge Inc (TSE:ENB) (NYSE:ENB) – Equities research analysts at National Bank Financial lowered their FY2019 earnings per share (EPS) estimates for shares of Enbridge in a report released on Monday, February 18th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $1.95 per share for the year, down from their prior forecast of $2.03. National Bank Financial currently has a “Outperform” rating and a $59.00 target price on the stock.
Other equities research analysts have also recently issued reports about the company. TD Securities upped their price target on Enbridge from C$56.00 to C$57.00 in a research report on Tuesday. UBS Group cut Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. JPMorgan Chase & Co. upped their price target on Enbridge from C$53.00 to C$56.00 in a research report on Friday, February 1st. CIBC upped their price target on Enbridge from C$55.00 to C$57.00 in a research report on Tuesday, January 15th. Finally, Wells Fargo & Co upped their price target on Enbridge from C$54.00 to C$55.00 and gave the company an “outperform” rating in a research report on Tuesday, November 6th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$54.50.
In other Enbridge news, Director Albert Monaco acquired 7,569 shares of the business’s stock in a transaction dated Tuesday, December 4th. The stock was bought at an average price of C$43.82 per share, with a total value of C$331,673.58. Also, insider Cynthia Lynn Hansen sold 2,516 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of C$44.05, for a total value of C$110,829.80.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 15th will be given a dividend of $0.738 per share. The ex-dividend date of this dividend is Thursday, February 14th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.95 annualized dividend and a dividend yield of 6.11%. Enbridge’s dividend payout ratio is currently 183.84%.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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