Enbridge Inc (ENB) Forecasted to Post Q3 2017 Earnings of $0.35 Per Share
Enbridge Inc (NYSE:ENB) (TSE:ENB) – National Bank Financial issued their Q3 2017 earnings per share estimates for Enbridge in a report issued on Monday. National Bank Financial analyst P. Kenny anticipates that the pipeline company will earn $0.35 per share for the quarter.
Other research analysts have also recently issued research reports about the stock. GMP Securities cut shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price target (down previously from $45.00) on shares of Enbridge in a report on Friday, July 14th. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Saturday, June 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a report on Friday, June 23rd. Finally, Zacks Investment Research cut shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.00.
Shares of Enbridge (NYSE:ENB) opened at 41.30 on Wednesday. The company’s 50-day moving average is $41.04 and its 200-day moving average is $40.56. The stock has a market cap of $67.97 billion, a PE ratio of 32.42 and a beta of 0.65. Enbridge has a 52-week low of $37.37 and a 52-week high of $45.09.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its earnings results on Thursday, August 3rd. The pipeline company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). Enbridge had a net margin of 5.28% and a return on equity of 6.04%. The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.81 billion. During the same period in the previous year, the company earned $0.50 EPS.
Large investors have recently modified their holdings of the company. Monroe Bank & Trust MI purchased a new stake in shares of Enbridge during the 1st quarter worth approximately $105,000. NEXT Financial Group Inc lifted its position in shares of Enbridge by 17.7% during the 2nd quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after buying an additional 411 shares during the last quarter. First Personal Financial Services lifted its position in shares of Enbridge by 16.4% during the 2nd quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after buying an additional 397 shares during the last quarter. Welch Group LLC purchased a new stake in shares of Enbridge during the 2nd quarter worth approximately $121,000. Finally, San Francisco Sentry Investment Group CA purchased a new stake in shares of Enbridge during the 2nd quarter worth approximately $159,000. Institutional investors and hedge funds own 61.57% of the company’s stock.
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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