Enbridge Inc. Expected to Earn Q4 2022 Earnings of $0.57 Per Share (NYSE:ENB)

Defense World · Feb 3, 2023 15:03

Enbridge Inc. (NYSE:ENB – Get Rating) (TSE:ENB) – Investment analysts at US Capital Advisors reduced their Q4 2022 earnings estimates for shares of Enbridge in a note issued to investors on Monday, January 30th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.57 per share for the quarter, down from their prior forecast of $0.59. The consensus estimate for Enbridge's current full-year earnings is $2.20 per share. US Capital Advisors also issued estimates for Enbridge's Q1 2023 earnings at $0.67 EPS, Q2 2023 earnings at $0.57 EPS, Q3 2023 earnings at $0.56 EPS, Q4 2023 earnings at $0.63 EPS and FY2023 earnings at $2.42 EPS.

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A number of other equities analysts also recently issued reports on the stock. Credit Suisse Group cut their price objective on shares of Enbridge from C$54.00 to C$52.00 in a report on Friday, December 9th. BMO Capital Markets downgraded shares of Enbridge from an "outperform" rating to a "market perform" rating in a research report on Tuesday, January 24th. National Bank Financial lifted their target price on shares of Enbridge from C$54.00 to C$56.00 in a research report on Friday, January 27th. Scotiabank reduced their target price on Enbridge from C$62.00 to C$56.00 in a report on Thursday, October 20th. Finally, StockNews.com initiated coverage on Enbridge in a research report on Wednesday, October 12th. They set a "hold" rating for the company. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.90.

Enbridge Trading Down 0.3 %

Shares of Enbridge stock opened at $40.59 on Thursday. The company has a market capitalization of $82.19 billion, a P/E ratio of 19.24, a price-to-earnings-growth ratio of 2.96 and a beta of 0.85. The stock has a fifty day simple moving average of $40.24 and a 200 day simple moving average of $40.62. Enbridge has a 12-month low of $35.02 and a 12-month high of $47.67. The company has a current ratio of 0.60, a quick ratio of 0.47 and a debt-to-equity ratio of 1.22.

Enbridge (NYSE:ENB – Get Rating) (TSE:ENB) last issued its quarterly earnings data on Friday, November 4th. The pipeline company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. Enbridge had a return on equity of 10.60% and a net margin of 11.07%. The firm had revenue of $8.87 billion during the quarter.

Institutional Investors Weigh In On Enbridge

Large investors have recently added to or reduced their stakes in the company. Dearborn Partners LLC grew its stake in Enbridge by 9.3% in the 4th quarter. Dearborn Partners LLC now owns 18,464 shares of the pipeline company's stock valued at $722,000 after buying an additional 1,576 shares in the last quarter. Abundance Wealth Counselors grew its position in shares of Enbridge by 5.4% in the fourth quarter. Abundance Wealth Counselors now owns 38,834 shares of the pipeline company's stock valued at $1,518,000 after purchasing an additional 1,997 shares in the last quarter. ARGI Investment Services LLC raised its stake in shares of Enbridge by 8.7% during the 4th quarter. ARGI Investment Services LLC now owns 9,916 shares of the pipeline company's stock valued at $388,000 after purchasing an additional 791 shares during the period. Raymond James Trust N.A. lifted its holdings in Enbridge by 1.6% during the 4th quarter. Raymond James Trust N.A. now owns 64,320 shares of the pipeline company's stock worth $2,515,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in Enbridge in the 4th quarter worth about $220,000. Hedge funds and other institutional investors own 49.25% of the company's stock.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Wednesday, February 15th will be paid a dividend of $0.6538 per share. This is an increase from Enbridge's previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, February 14th. This represents a $2.62 annualized dividend and a dividend yield of 6.44%. Enbridge's dividend payout ratio is presently 122.75%.

Enbridge Company Profile

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Enbridge, Inc engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution & Storage, Gas Transmission & Midstream, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment consists of common carrier and contract crude oil, natural gas liquids and refined products pipelines and terminals in Canada and the U.S., including Canadian Mainline, Regional Oil Sands System, Southern Lights Pipeline, Spearhead Pipeline, Seaway Crude Pipeline interest, and other feeder pipelines.

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