Atb Cap Markets Weighs in on Enbridge Inc.’s Q4 2024 Earnings (NYSE:ENB)

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – Analysts at Atb Cap Markets raised their Q4 2024 earnings estimates for Enbridge in a research report issued on Monday, August 5th. Atb Cap Markets analyst N. Heywood now anticipates that the pipeline company will post earnings per share of $0.49 for the quarter, up from their previous estimate of $0.46. The consensus estimate for Enbridge’s current full-year earnings is $2.12 per share. Atb Cap Markets also issued estimates for Enbridge’s Q1 2025 earnings at $0.74 EPS, Q4 2025 earnings at $0.60 EPS, FY2025 earnings at $2.36 EPS and FY2026 earnings at $2.48 EPS.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Enbridge had a net margin of 13.59% and a return on equity of 10.53%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the firm earned $0.51 earnings per share.

Enbridge Trading Up 0.3 %

ENB stock traded up $0.12 during trading on Thursday, reaching $38.85. 3,740,253 shares of the stock were exchanged, compared to its average volume of 5,478,916. The company has a current ratio of 0.68, a quick ratio of 0.59 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average price of $36.14 and a 200-day moving average price of $35.73. Enbridge has a 1 year low of $31.03 and a 1 year high of $38.95. The firm has a market capitalization of $82.90 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 3.55 and a beta of 0.92.

Institutional Investors Weigh In On Enbridge

Institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. grew its holdings in Enbridge by 0.9% during the 2nd quarter. Moors & Cabot Inc. now owns 133,050 shares of the pipeline company’s stock worth $4,735,000 after acquiring an additional 1,206 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in shares of Enbridge by 2.2% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 181,071 shares of the pipeline company’s stock worth $6,446,000 after acquiring an additional 3,817 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Enbridge by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,427,686 shares of the pipeline company’s stock worth $86,399,000 after acquiring an additional 25,717 shares during the period. J.W. Cole Advisors Inc. increased its holdings in shares of Enbridge by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 13,496 shares of the pipeline company’s stock valued at $480,000 after purchasing an additional 488 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Enbridge by 3.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,852,464 shares of the pipeline company’s stock valued at $137,094,000 after purchasing an additional 120,490 shares in the last quarter. 54.60% of the stock is currently owned by institutional investors and hedge funds.

Enbridge Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Thursday, August 15th will be given a dividend of $0.669 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Thursday, August 15th. Enbridge’s dividend payout ratio is presently 134.01%.

About Enbridge

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.