US Capital Advisors Expects Higher Earnings for Enbridge

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at US Capital Advisors lifted their Q4 2024 earnings per share estimates for Enbridge in a report issued on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will earn $0.57 per share for the quarter, up from their previous forecast of $0.55. The consensus estimate for Enbridge’s current full-year earnings is $2.08 per share.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share.

ENB has been the topic of several other research reports. Morgan Stanley initiated coverage on Enbridge in a research note on Friday, October 25th. They issued an “equal weight” rating on the stock. Jefferies Financial Group lowered Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, September 30th.

Enbridge Trading Down 1.1 %

Shares of ENB opened at $40.42 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.34. Enbridge has a 12-month low of $31.47 and a 12-month high of $42.16. The firm has a market capitalization of $86.24 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. The stock’s fifty day simple moving average is $40.66 and its 200-day simple moving average is $37.85.

Hedge Funds Weigh In On Enbridge

Hedge funds have recently added to or reduced their stakes in the stock. TruNorth Capital Management LLC bought a new stake in shares of Enbridge in the second quarter worth about $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge in the second quarter worth about $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge in the first quarter worth about $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge in the first quarter worth about $31,000. Finally, Grove Bank & Trust increased its holdings in shares of Enbridge by 56.7% in the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.