Enbridge Inc. Expected to Post Q1 2024 Earnings of $0.75 Per Share (TSE:ENB)

Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Equities research analysts at National Bank Financial issued their Q1 2024 earnings per share estimates for shares of Enbridge in a note issued to investors on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the company will earn $0.75 per share for the quarter. The consensus estimate for Enbridge’s current full-year earnings is $2.84 per share.

Enbridge (TSE:ENB) (NYSE:ENB) last released its quarterly earnings results on Friday, February 9th. The company reported C$0.64 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.68 by C($0.04). The firm had revenue of C$11.30 billion during the quarter, compared to analyst estimates of C$12.99 billion. Enbridge had a return on equity of 9.47% and a net margin of 14.18%.

Several other equities research analysts have also recently issued reports on ENB. Royal Bank of Canada decreased their price objective on Enbridge from C$55.00 to C$54.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Jefferies Financial Group decreased their price objective on Enbridge from C$54.00 to C$53.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. ATB Capital set a C$56.00 price objective on Enbridge and gave the stock an “outperform” rating in a report on Friday, January 5th. Stifel Nicolaus set a C$52.00 price objective on Enbridge and gave the stock a “hold” rating in a report on Thursday, January 18th. Finally, National Bankshares raised their price objective on Enbridge from C$51.00 to C$52.00 in a report on Thursday, March 7th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Enbridge currently has an average rating of “Moderate Buy” and a consensus target price of C$53.59.

Enbridge Price Performance

Shares of TSE:ENB opened at C$48.86 on Thursday. The business’s fifty day moving average price is C$47.68 and its two-hundred day moving average price is C$47.11. The stock has a market cap of C$104.07 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89. The company has a debt-to-equity ratio of 127.95, a quick ratio of 0.44 and a current ratio of 0.83. Enbridge has a one year low of C$42.75 and a one year high of C$54.05.

Enbridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.915 per share. This represents a $3.66 dividend on an annualized basis and a dividend yield of 7.49%. Enbridge’s dividend payout ratio is presently 128.87%.

Enbridge Company Profile

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.