Enbridge Inc. Expected to Post Q1 2024 Earnings of $0.75 Per Share (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of Enbridge in a research report issued to clients and investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the company will earn $0.75 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings results on Friday, February 9th. The company reported C$0.64 EPS for the quarter, missing analysts’ consensus estimates of C$0.68 by C($0.04). Enbridge had a net margin of 14.18% and a return on equity of 9.47%. The firm had revenue of C$11.30 billion during the quarter, compared to analyst estimates of C$12.99 billion.

A number of other brokerages also recently weighed in on ENB. Stifel Nicolaus set a C$52.00 price target on Enbridge and gave the stock a “hold” rating in a research report on Thursday, January 18th. Jefferies Financial Group cut their price target on Enbridge from C$54.00 to C$53.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Barclays decreased their price objective on shares of Enbridge from C$53.00 to C$51.00 in a report on Thursday, March 7th. National Bankshares raised their target price on shares of Enbridge from C$51.00 to C$52.00 in a research note on Thursday, March 7th. Finally, ATB Capital set a C$56.00 price target on shares of Enbridge and gave the company an “outperform” rating in a research note on Friday, January 5th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enbridge presently has a consensus rating of “Moderate Buy” and an average price target of C$53.59.

Enbridge Stock Up 0.9 %

Shares of ENB stock opened at C$48.86 on Thursday. Enbridge has a 52-week low of C$42.75 and a 52-week high of C$54.05. The stock has a market cap of C$104.07 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.75 and a beta of 0.89. The firm’s 50-day moving average is C$47.68 and its 200-day moving average is C$47.11. The company has a debt-to-equity ratio of 127.95, a quick ratio of 0.44 and a current ratio of 0.83.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.49%. Enbridge’s payout ratio is 128.87%.

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.