US Capital Advisors Analysts Cut Earnings Estimates for Enbridge Inc. (TSE:ENB)

Posted by on Jul 31st, 2023

Enbridge Inc. (TSE:ENB – Free Report) (NYSE:ENB) – Stock analysts at US Capital Advisors decreased their Q2 2023 earnings estimates for Enbridge in a research report issued to clients and investors on Thursday, July 27th. US Capital Advisors analyst J. Carreker now anticipates that the company will post earnings per share of $0.67 for the quarter, down from their previous estimate of $0.75. The consensus estimate for Enbridge’s current full-year earnings is $2.95 per share. US Capital Advisors also issued estimates for Enbridge’s Q3 2023 earnings at $0.62 EPS, Q4 2023 earnings at $0.75 EPS, FY2023 earnings at $2.89 EPS, Q1 2024 earnings at $0.77 EPS, Q2 2024 earnings at $0.61 EPS, Q3 2024 earnings at $0.59 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $2.67 EPS and FY2025 earnings at $2.94 EPS.

Enbridge (TSE:ENB – Get Free Report) (NYSE:ENB) last announced its earnings results on Friday, May 5th. The company reported C$0.85 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.83 by C$0.02. Enbridge had a net margin of 5.55% and a return on equity of 4.25%. The business had revenue of C$12.08 billion during the quarter, compared to the consensus estimate of C$13.83 billion.

ENB has been the subject of a number of other reports. Credit Suisse Group raised their price target on shares of Enbridge from C$53.00 to C$58.00 in a report on Monday, May 15th. Morgan Stanley reduced their price target on shares of Enbridge from C$64.00 to C$63.00 in a report on Tuesday, April 25th. Finally, Raymond James reduced their price target on shares of Enbridge from C$60.00 to C$56.00 in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Enbridge presently has an average rating of “Hold” and an average price target of C$57.36.

Enbridge Price Performance

Shares of TSE ENB opened at C$48.19 on Monday. Enbridge has a twelve month low of C$47.63 and a twelve month high of C$58.06. The firm has a fifty day simple moving average of C$49.09 and a 200 day simple moving average of C$51.52. The company has a market capitalization of C$97.34 billion, a PE ratio of 40.84, a P/E/G ratio of 1.28 and a beta of 0.90. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 124.08.

Enbridge Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Monday, May 15th were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 7.39%. This is an increase from Enbridge’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Friday, May 12th. Enbridge’s dividend payout ratio (DPR) is presently 300.85%.

About Enbridge

(Get Free Report)

Enbridge Inc, together with its subsidiaries, 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.

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Earnings History and Estimates for Enbridge (TSE:ENB)

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