Enbridge Inc Expected to Post FY2017 Earnings of $1.65 Per Share (ENB)
Enbridge Inc (NYSE:ENB) (TSE:ENB) – Equities research analysts at National Bank Financial decreased their FY2017 earnings per share estimates for shares of Enbridge in a note issued to investors on Thursday. National Bank Financial analyst P. Kenny now expects that the pipeline company will earn $1.65 per share for the year, down from their prior estimate of $1.74. National Bank Financial also issued estimates for Enbridge’s FY2018 earnings at $2.27 EPS.
Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings data on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.05. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.81 billion. Enbridge had a return on equity of 6.04% and a net margin of 5.28%. During the same quarter in the prior year, the company earned $0.50 earnings per share.
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ENB has been the topic of a number of other reports. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Enbridge in a research note on Friday, June 23rd. Wolfe Research assumed coverage on shares of Enbridge in a research note on Friday, May 12th. They issued a “market perform” rating and a $43.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $44.00 target price (down from $45.00) on shares of Enbridge in a research note on Friday, July 14th. Zacks Investment Research downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of Enbridge from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. Enbridge has a consensus rating of “Hold” and a consensus target price of $54.00.
Enbridge (NYSE:ENB) opened at 41.53 on Monday. The company’s 50-day moving average is $40.07 and its 200-day moving average is $41.05. The firm has a market capitalization of $68.06 billion, a PE ratio of 43.49 and a beta of 0.62. Enbridge has a 52-week low of $37.37 and a 52-week high of $45.77.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.489 per share. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.96 annualized dividend and a dividend yield of 4.71%. Enbridge’s dividend payout ratio (DPR) is 173.79%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in Enbridge by 312.5% in the first quarter. Quadrant Capital Group LLC now owns 5,647 shares of the pipeline company’s stock valued at $225,000 after buying an additional 4,278 shares during the period. Koshinski Asset Management Inc. acquired a new position in Enbridge during the first quarter valued at approximately $250,000. Nexus Investment Management Inc. increased its position in Enbridge by 0.9% in the first quarter. Nexus Investment Management Inc. now owns 220,055 shares of the pipeline company’s stock valued at $9,203,000 after buying an additional 2,000 shares during the period. Addenda Capital Inc. increased its position in Enbridge by 15.5% in the first quarter. Addenda Capital Inc. now owns 1,484,515 shares of the pipeline company’s stock valued at $62,012,000 after buying an additional 199,400 shares during the period. Finally, Gulf International Bank UK Ltd increased its position in Enbridge by 79.1% in the first quarter. Gulf International Bank UK Ltd now owns 508,903 shares of the pipeline company’s stock valued at $21,287,000 after buying an additional 224,792 shares during the period. 63.83% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Company Profile
Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.
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