Brokerages expect Enbridge Inc (NYSE:ENB) (TSE:ENB) to report $0.37 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Enbridge’s earnings, with estimates ranging from $0.33 to $0.44. Enbridge reported earnings per share of $0.62 during the same quarter last year, which would suggest a negative year over year growth rate of 40.3%. The firm is scheduled to announce its next earnings report on Friday, August 2nd.
According to Zacks, analysts expect that Enbridge will report full year earnings of $1.80 per share for the current year, with EPS estimates ranging from $1.49 to $1.94. For the next year, analysts expect that the firm will post earnings of $1.87 per share, with EPS estimates ranging from $1.52 to $2.11. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Enbridge.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.09. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. During the same quarter in the prior year, the firm posted $0.82 earnings per share.
Several brokerages have recently weighed in on ENB. Credit Suisse Group cut Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Barclays initiated coverage on Enbridge in a research report on Tuesday, April 9th. They set an “overweight” rating for the company. Industrial Alliance Securities reaffirmed a “buy” rating on shares of Enbridge in a research report on Monday, April 8th. ValuEngine downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, National Bank Financial raised Enbridge from a “sector perform overweight” rating to an “outperform overweight” rating in a research report on Wednesday, March 20th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $46.46.
Shares of ENB stock traded up $0.39 on Thursday, hitting $37.06. The company had a trading volume of 51,037 shares, compared to its average volume of 3,535,107. The stock has a market cap of $73.77 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 2.51 and a beta of 0.69. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.92. Enbridge has a twelve month low of $28.82 and a twelve month high of $37.96.
In other Enbridge news, insider Albert Monaco purchased 7,806 shares of Enbridge stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $49.33 per share, for a total transaction of $385,069.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William T. Yardley sold 14,900 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value of $551,002.00. Following the transaction, the insider now owns 94,770 shares in the company, valued at approximately $3,504,594.60. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
Several hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust boosted its position in shares of Enbridge by 58.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Front Row Advisors LLC lifted its position in Enbridge by 3,985.7% in the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 837 shares in the last quarter. Rockland Trust Co. bought a new position in Enbridge in the 4th quarter valued at approximately $28,000. We Are One Seven LLC bought a new position in Enbridge in the 4th quarter valued at approximately $28,000. Finally, Mackey Komara & Dankovich LLC bought a new position in Enbridge in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 56.95% of the company’s stock.
Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
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