Atb Cap Markets Weighs in on Enbridge Inc.’s Q1 2024 Earnings (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Stock analysts at Atb Cap Markets lifted their Q1 2024 earnings per share estimates for shares of Enbridge in a research report issued to clients and investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now expects that the company will post earnings of $0.86 per share for the quarter, up from their previous estimate of $0.81. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share. Atb Cap Markets also issued estimates for Enbridge’s FY2024 earnings at $2.97 EPS.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, February 9th. The company reported C$0.64 earnings per share (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 business had revenue of C$11.30 billion during the quarter, compared to the consensus estimate of C$12.99 billion.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of Enbridge from C$52.00 to C$51.00 and set a “hold” rating for the company in a research report on Thursday. Jefferies Financial Group decreased their price target on Enbridge from C$54.00 to C$53.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada cut their target price on shares of Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. Barclays lowered their price target on shares of Enbridge from C$53.00 to C$51.00 in a research report on Thursday, March 7th. Finally, National Bankshares raised their price objective on shares of Enbridge from C$51.00 to C$52.00 in a research note on Thursday, March 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Enbridge has a consensus rating of “Moderate Buy” and a consensus price target of C$52.94.

Enbridge Price Performance

Shares of ENB stock opened at C$49.52 on Friday. Enbridge has a 1 year low of C$42.75 and a 1 year high of C$54.05. The company has a current ratio of 0.83, a quick ratio of 0.44 and a debt-to-equity ratio of 127.95. The firm’s 50 day moving average is C$47.75 and its 200-day moving average is C$47.12. The firm has a market capitalization of C$105.48 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 0.75 and a beta of 0.89.

Enbridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.915 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.66 annualized dividend and a dividend yield of 7.39%. Enbridge’s dividend payout ratio (DPR) is currently 128.87%.

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.