Q4 EPS Estimates for Enbridge Reduced by US Capital Advisors

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Investment analysts at US Capital Advisors reduced their Q4 2024 earnings per share (EPS) estimates for shares of Enbridge in a note issued to investors on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $0.53 per share for the quarter, down from their prior forecast of $0.54. The consensus estimate for Enbridge’s current full-year earnings is $1.97 per share.

A number of other equities research analysts also recently commented on ENB. Wells Fargo & Company upgraded Enbridge from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, November 6th. TD Securities started coverage on Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating for the company. Morgan Stanley started coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Hold” and a consensus target price of $63.00.

Enbridge Stock Performance

ENB opened at $43.73 on Wednesday. The company has a market capitalization of $95.25 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 4.02 and a beta of 0.94. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. Enbridge has a 1-year low of $32.85 and a 1-year high of $45.78. The business has a 50 day moving average price of $43.11 and a two-hundred day moving average price of $41.27.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.13%. Enbridge’s payout ratio is currently 121.76%.

Institutional Trading of Enbridge

A number of hedge funds have recently modified their holdings of the business. McIlrath & Eck LLC increased its stake in shares of Enbridge by 74.9% in the third quarter. McIlrath & Eck LLC now owns 689 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Albion Financial Group UT purchased a new position in Enbridge in the fourth quarter valued at about $29,000. Grove Bank & Trust increased its position in Enbridge by 56.7% in the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. MFA Wealth Advisors LLC raised its stake in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after purchasing an additional 280 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Enbridge during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors 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.