Enbridge Inc (NYSE:ENB) Expected to Post Earnings of $0.40 Per Share

Equities research analysts expect that Enbridge Inc (NYSE:ENB) (TSE:ENB) will announce $0.40 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Enbridge’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.38. Enbridge posted earnings of $0.42 per share during the same quarter last year, which indicates a negative year over year growth rate of 4.8%. The business is expected to report its next quarterly earnings results on Friday, November 1st.

According to Zacks, analysts expect that Enbridge will report full year earnings of $2.00 per share for the current financial year, with EPS estimates ranging from $1.97 to $2.04. For the next year, analysts anticipate that the firm will post earnings of $1.95 per share, with EPS estimates ranging from $1.83 to $2.05. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Enbridge.

Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.08. The company had revenue of $9.92 billion for the quarter. Enbridge had a return on equity of 8.16% and a net margin of 9.97%.

A number of research firms have recently commented on ENB. Wolfe Research lowered Enbridge from an “outperform” rating to a “peer perform” rating and set a $37.00 price target on the stock. in a research report on Thursday, June 13th. Goldman Sachs Group began coverage on Enbridge in a research report on Thursday, July 18th. They set a “neutral” rating on the stock. ValuEngine lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Bank of America lowered Enbridge from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.75.

Institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia Trust Co. raised its position in Enbridge by 12.5% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 625,148 shares of the pipeline company’s stock valued at $22,555,000 after buying an additional 69,399 shares during the last quarter. NEXT Financial Group Inc raised its position in Enbridge by 67.6% in the 2nd quarter. NEXT Financial Group Inc now owns 25,215 shares of the pipeline company’s stock valued at $910,000 after buying an additional 10,170 shares during the last quarter. National Pension Service acquired a new stake in Enbridge in the 2nd quarter valued at approximately $98,372,000. Lee Financial Group Hawaii Inc. acquired a new stake in Enbridge in the 2nd quarter valued at approximately $784,000. Finally, Sawtooth Solutions LLC raised its position in Enbridge by 31.6% in the 1st quarter. Sawtooth Solutions LLC now owns 56,072 shares of the pipeline company’s stock valued at $2,033,000 after buying an additional 13,467 shares during the last quarter. 53.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ENB remained flat at $$34.80 during mid-day trading on Monday. The stock had a trading volume of 1,360,256 shares, compared to its average volume of 3,373,640. The stock has a market capitalization of $70.41 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.63 and a quick ratio of 0.53. The firm’s fifty day moving average is $34.41 and its two-hundred day moving average is $35.57. Enbridge has a 52 week low of $28.82 and a 52 week high of $38.04.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.251 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, September 30th. Enbridge’s dividend payout ratio is presently 107.80%.

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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