Enbridge (ENB) Issues Quarterly Earnings Results

Enbridge (NYSE:ENB) (TSE:ENB) issued its earnings results on Friday. The pipeline company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09, Morningstar.com reports. Enbridge had a return on equity of 8.72% and a net margin of 5.64%. The business had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the company earned $0.82 EPS.

Shares of NYSE ENB opened at $36.85 on Friday. The stock has a market cap of $74.57 billion, a P/E ratio of 17.98, a PEG ratio of 2.47 and a beta of 0.69. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.58. Enbridge has a 1-year low of $28.82 and a 1-year high of $37.96.

In other Enbridge news, insider Albert Monaco acquired 7,806 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were purchased at an average cost of $49.33 per share, for a total transaction of $385,069.98. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William T. Yardley sold 14,900 shares of Enbridge stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $36.98, for a total value of $551,002.00. Following the completion of the sale, the insider now owns 94,770 shares in the company, valued at $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 modified their holdings of the company. Reilly Financial Advisors LLC boosted its position in shares of Enbridge by 16.0% during the fourth quarter. Reilly Financial Advisors LLC now owns 2,138 shares of the pipeline company’s stock valued at $66,000 after purchasing an additional 295 shares in the last quarter. Hanson McClain Inc. boosted its position in shares of Enbridge by 41.9% during the first quarter. Hanson McClain Inc. now owns 1,005 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 297 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Enbridge by 58.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Mengis Capital Management Inc. boosted its position in shares of Enbridge by 4.5% during the first quarter. Mengis Capital Management Inc. now owns 6,918 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 300 shares in the last quarter. Finally, Clarus Wealth Advisors boosted its position in shares of Enbridge by 27.5% during the first quarter. Clarus Wealth Advisors now owns 1,476 shares of the pipeline company’s stock valued at $54,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 56.65% of the company’s stock.

Several research analysts have commented on ENB shares. Scotiabank downgraded Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. National Bank Financial downgraded Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 target price for the company. in a research note on Monday, March 4th. CIBC reaffirmed a “buy” rating and issued a $57.00 price target on shares of Enbridge in a report on Tuesday, January 15th. Barclays assumed coverage on Enbridge in a report on Tuesday, April 9th. They issued an “overweight” rating on the stock. Finally, Credit Suisse Group cut Enbridge from an “outperform” rating to a “neutral” rating in a report on Thursday, April 25th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.46.

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About Enbridge

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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Earnings History for Enbridge (NYSE:ENB)

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