Brokerages Expect Enbridge Inc (ENB) Will Post Earnings of $0.55 Per Share

Wall Street brokerages expect that Enbridge Inc (NYSE:ENB) (TSE:ENB) will post $0.55 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Enbridge’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.60. Enbridge also reported earnings of $0.55 per share in the same quarter last year. The firm is expected to report its next earnings report before the market opens on Thursday, May 11th.

On average, analysts expect that Enbridge will report full-year earnings of $2.04 per share for the current year, with EPS estimates ranging from $1.69 to $2.48. For the next financial year, analysts forecast that the business will post earnings of $2.25 per share, with EPS estimates ranging from $1.85 to $2.83. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Enbridge.

Enbridge (NYSE:ENB) last released its quarterly earnings results on Friday, February 17th. The pipeline company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by $0.02. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $7.10 billion. Enbridge had a net margin of 5.99% and a return on equity of 14.67%. During the same quarter in the prior year, the company earned $0.58 earnings per share.

A number of equities research analysts have recently issued reports on ENB shares. Zacks Investment Research upgraded shares of Enbridge from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Thursday, February 16th. Morgan Stanley started coverage on shares of Enbridge in a report on Tuesday, May 2nd. They set an “equal weight” rating and a $45.00 price target on the stock. Wells Fargo & Co restated a “market perform” rating on shares of Enbridge in a report on Friday, March 31st. Citigroup Inc restated a “neutral” rating on shares of Enbridge in a report on Wednesday, January 18th. Finally, Credit Suisse Group AG assumed coverage on shares of Enbridge in a report on Tuesday, March 14th. They set an “outperform” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Enbridge presently has a consensus rating of “Buy” and a consensus target price of $56.56.

Hedge funds have recently bought and sold shares of the company. Capital World Investors increased its stake in Enbridge by 14.9% in the third quarter. Capital World Investors now owns 95,707,623 shares of the pipeline company’s stock valued at $4,216,369,000 after buying an additional 12,376,715 shares in the last quarter. TD Asset Management Inc. increased its stake in Enbridge by 28.2% in the first quarter. TD Asset Management Inc. now owns 41,491,668 shares of the pipeline company’s stock valued at $1,733,219,000 after buying an additional 9,123,400 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Enbridge by 1.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 39,309,705 shares of the pipeline company’s stock valued at $1,735,991,000 after buying an additional 526,282 shares in the last quarter. Bank of Montreal Can increased its stake in Enbridge by 72.4% in the first quarter. Bank of Montreal Can now owns 38,965,561 shares of the pipeline company’s stock valued at $1,630,318,000 after buying an additional 16,369,985 shares in the last quarter. Finally, Capital International Investors increased its stake in Enbridge by 11.7% in the third quarter. Capital International Investors now owns 31,438,615 shares of the pipeline company’s stock valued at $1,386,409,000 after buying an additional 3,281,364 shares in the last quarter. 71.79% of the stock is owned by institutional investors.

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Enbridge (NYSE:ENB) traded down 0.82% during mid-day trading on Tuesday, hitting $41.24. 2,914,186 shares of the stock traded hands. The firm has a market cap of $38.90 billion, a PE ratio of 29.10 and a beta of 0.62. Enbridge has a 12-month low of $38.40 and a 12-month high of $45.77. The stock has a 50 day moving average price of $41.65 and a 200 day moving average price of $42.27.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be given a $0.4435 dividend. This represents a $1.77 annualized dividend and a yield of 4.30%. This is an increase from Enbridge’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, May 11th. Enbridge’s payout ratio is currently 119.33%.

About Enbridge

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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