National Bank Financial Comments on Enbridge Inc’s FY2019 Earnings (ENB)

Enbridge Inc (NYSE:ENB) (TSE:ENB) – Analysts at National Bank Financial upped their FY2019 earnings estimates for Enbridge in a report issued on Monday, May 13th. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will post earnings per share of $1.88 for the year, up from their prior estimate of $1.49. National Bank Financial has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for Enbridge’s FY2020 earnings at $1.84 EPS.

A number of other analysts have also recently commented on the stock. Credit Suisse Group cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 25th. Barclays began coverage on shares of Enbridge in a research note on Tuesday, April 9th. They set an “overweight” rating on the stock. Industrial Alliance Securities restated a “buy” rating on shares of Enbridge in a research note on Monday, April 8th. ValuEngine cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Zacks Investment Research cut shares of Enbridge from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.46.



Shares of ENB stock opened at $37.53 on Thursday. The company has a market cap of $75.28 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.35 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 0.64. Enbridge has a 12 month low of $28.82 and a 12 month high of $37.96.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings results on Friday, May 10th. The pipeline company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. The company had revenue of $9.67 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Enbridge had a net margin of 9.09% and a return on equity of 8.31%. During the same period in the prior year, the company posted $0.82 EPS.

A number of hedge funds and other institutional investors have recently bought and sold shares of ENB. Vanguard Group Inc increased its holdings in shares of Enbridge by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 48,626,327 shares of the pipeline company’s stock worth $1,570,144,000 after buying an additional 1,184,467 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Enbridge by 3.7% in the 1st quarter. TD Asset Management Inc. now owns 46,596,794 shares of the pipeline company’s stock worth $1,688,151,000 after buying an additional 1,648,741 shares during the last quarter. Jarislowsky Fraser Ltd increased its holdings in shares of Enbridge by 0.5% in the 4th quarter. Jarislowsky Fraser Ltd now owns 24,607,599 shares of the pipeline company’s stock worth $764,101,000 after buying an additional 131,550 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Enbridge by 4.1% in the 1st quarter. CIBC Asset Management Inc now owns 22,663,824 shares of the pipeline company’s stock worth $820,833,000 after buying an additional 895,305 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of Enbridge by 13.6% in the 4th quarter. Mackenzie Financial Corp now owns 21,632,644 shares of the pipeline company’s stock worth $672,343,000 after buying an additional 2,584,814 shares during the last quarter. Institutional investors and hedge funds own 56.95% of the company’s stock.

In other Enbridge news, insider William T. Yardley sold 14,900 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value of $551,002.00. Following the sale, the insider now directly owns 94,770 shares in the company, valued at approximately $3,504,594.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Allen C. Capps sold 6,514 shares of the stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total transaction of $241,148.28. Following the completion of the sale, the insider now owns 3,437 shares in the company, valued at $127,237.74. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

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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