Enbridge (NYSE:ENB) Releases Earnings Results, Beats Expectations By $0.04 EPS

Enbridge (NYSE:ENB) (TSE:ENB) released its quarterly earnings data on Friday. The pipeline company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04, Zacks reports. The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $10.20 billion. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. During the same period last year, the business earned $0.92 earnings per share.

Enbridge Price Performance

ENB opened at $46.10 on Friday. The stock’s 50-day moving average price is $44.24 and its 200 day moving average price is $43.31. Enbridge has a 12-month low of $34.60 and a 12-month high of $47.08. The firm has a market cap of $100.50 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 3.92 and a beta of 0.84. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Thursday, May 15th will be paid a $0.679 dividend. The ex-dividend date is Thursday, May 15th. This is a boost from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.89%. Enbridge’s payout ratio is presently 157.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Raymond James upgraded shares of Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Royal Bank of Canada raised their target price on Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Citigroup began coverage on Enbridge in a research note on Friday, April 4th. They issued a “buy” rating on the stock. TD Securities initiated coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Finally, CIBC reaffirmed an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Institutional Trading of Enbridge

A hedge fund recently bought a new stake in Enbridge stock. Brighton Jones LLC purchased a new position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,151 shares of the pipeline company’s stock, valued at approximately $261,000. 54.60% of the stock is owned by institutional investors.

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.