National Bank Financial Comments on Enbridge Inc.’s Q1 2023 Earnings (TSE:ENB)

Posted by on Apr 27th, 2023

Enbridge Inc. (TSE:ENB – Get Rating) (NYSE:ENB) – Stock analysts at National Bank Financial issued their Q1 2023 earnings per share estimates for shares of Enbridge in a report released on Monday, April 24th. National Bank Financial analyst P. Kenny anticipates that the company will earn $0.80 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.97 per share.

Enbridge (TSE:ENB – Get Rating) (NYSE:ENB) last issued its earnings results on Friday, February 10th. The company reported C$0.63 earnings per share for the quarter, missing the consensus estimate of C$0.74 by C($0.11). Enbridge had a return on equity of 4.64% and a net margin of 5.63%.

Several other research firms also recently issued reports on ENB. Raymond James decreased their price target on Enbridge from C$60.00 to C$56.00 in a research note on Friday, April 21st. BMO Capital Markets downgraded Enbridge from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from C$60.00 to C$55.00 in a research note on Wednesday, January 25th. National Bankshares upped their price target on Enbridge from C$54.00 to C$56.00 and gave the stock a “sector perform” rating in a research note on Friday, January 27th. Barclays upped their price target on Enbridge from C$53.00 to C$54.00 in a research note on Thursday, March 16th. Finally, Credit Suisse Group downgraded Enbridge to a “sell” rating and set a C$53.00 price target for the company. in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$58.29.

Enbridge Stock Performance

Shares of ENB stock opened at C$53.38 on Wednesday. The firm has a market cap of C$107.83 billion, a P/E ratio of 41.70, a PEG ratio of 1.35 and a beta of 0.88. The stock’s 50-day moving average is C$52.11 and its two-hundred day moving average is C$53.14. Enbridge has a fifty-two week low of C$48.88 and a fifty-two week high of C$59.69. The company has a debt-to-equity ratio of 129.03, a current ratio of 0.60 and a quick ratio of 0.44.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Wednesday, March 1st were given a $0.887 dividend. The ex-dividend date of this dividend was Tuesday, February 14th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 6.65%. This is an increase from Enbridge’s previous quarterly dividend of $0.86. Enbridge’s dividend payout ratio (DPR) is currently 277.34%.

Enbridge Company Profile

(Get Rating)

Enbridge Inc 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.

Featured Articles

Earnings History and Estimates for Enbridge (TSE:ENB)

Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.