National Bank Financial Research Analysts Lift Earnings Estimates for Enbridge Inc (TSE:ENB)

Enbridge Inc (TSE:ENB) (NYSE:ENB) – Investment analysts at National Bank Financial lifted their FY2020 earnings estimates for shares of Enbridge in a research note issued to investors on Sunday, November 10th. National Bank Financial analyst P. Kenny now anticipates that the company will earn $2.55 per share for the year, up from their prior forecast of $2.41.

Several other equities analysts have also commented on the stock. CIBC reduced their target price on shares of Enbridge from C$57.00 to C$56.00 in a report on Wednesday, October 23rd. BMO Capital Markets increased their target price on shares of Enbridge from C$54.00 to C$55.00 in a report on Monday, September 9th. Royal Bank of Canada increased their target price on shares of Enbridge from C$54.00 to C$56.00 and gave the company an “outperform” rating in a report on Monday. US Capital Advisors reaffirmed an “overweight” rating on shares of Enbridge in a report on Friday, October 25th. Finally, Citigroup increased their target price on shares of Enbridge from C$46.00 to C$51.00 in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Enbridge presently has an average rating of “Buy” and an average price target of C$55.10.

ENB stock opened at C$51.37 on Wednesday. The company has a debt-to-equity ratio of 92.29, a quick ratio of 0.51 and a current ratio of 0.63. Enbridge has a 52 week low of C$39.69 and a 52 week high of C$51.38. The firm’s fifty day moving average is C$47.60 and its 200 day moving average is C$47.09. The firm has a market cap of $98.48 billion and a P/E ratio of 20.96.

In other Enbridge news, Senior Officer Bradley Francis Shamla sold 2,537 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$47.30, for a total value of C$120,000.10. Following the sale, the insider now owns 46,035 shares of the company’s stock, valued at approximately C$2,177,455.50.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Friday, November 15th will be issued a dividend of $0.738 per share. This represents a $2.95 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Thursday, November 14th. Enbridge’s dividend payout ratio is currently 117.71%.

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 and Estimates for Enbridge (TSE:ENB)

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