Scotiabank Has Pessimistic View of Enbridge FY2027 Earnings

Enbridge Inc (NYSE:ENB) (TSE:ENB) – Analysts at Scotiabank cut their FY2027 earnings per share estimates for Enbridge in a research note issued on Tuesday, July 7th. Scotiabank analyst R. Hope now forecasts that the pipeline company will post earnings of $2.35 per share for the year, down from their prior estimate of $2.47. Scotiabank has a “Outperform” rating on the stock. The consensus estimate for Enbridge’s current full-year earnings is $2.14 per share.

A number of other research analysts have also recently weighed in on ENB. Wall Street Zen cut shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Enbridge in a research report on Monday, May 11th. Royal Bank Of Canada raised their target price on shares of Enbridge from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Enbridge in a report on Friday, May 22nd. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Enbridge has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Enbridge Stock Up 0.1%

Shares of NYSE:ENB opened at $55.10 on Thursday. The stock has a 50-day simple moving average of $55.42 and a 200-day simple moving average of $52.58. The stock has a market capitalization of $120.35 billion, a P/E ratio of 25.87 and a beta of 0.58. Enbridge has a 1 year low of $43.59 and a 1 year high of $58.45. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.73 and a current ratio of 0.81.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Friday, May 8th. The pipeline company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $8.49 billion. Enbridge had a return on equity of 11.21% and a net margin of 9.83%.During the same period in the previous year, the company posted $1.03 EPS.

Hedge Funds Weigh In On Enbridge

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC acquired a new stake in Enbridge in the fourth quarter valued at approximately $261,000. AQR Capital Management LLC raised its stake in shares of Enbridge by 68.5% during the first quarter. AQR Capital Management LLC now owns 28,533 shares of the pipeline company’s stock valued at $1,264,000 after purchasing an additional 11,599 shares during the period. AXA S.A. lifted its position in shares of Enbridge by 15.5% during the second quarter. AXA S.A. now owns 113,887 shares of the pipeline company’s stock worth $5,161,000 after purchasing an additional 15,259 shares in the last quarter. Diversify Advisory Services LLC lifted its position in shares of Enbridge by 93.1% during the second quarter. Diversify Advisory Services LLC now owns 22,016 shares of the pipeline company’s stock worth $1,042,000 after purchasing an additional 10,617 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Enbridge by 80.1% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 78,507 shares of the pipeline company’s stock valued at $3,553,000 after purchasing an additional 34,912 shares during the period. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Friday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 133.80%.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.