Enbridge Inc (ENB) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Enbridge Inc (NYSE:ENB) (TSE:ENB) issued its quarterly earnings results on Thursday. The pipeline company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.03, Briefing.com reports. The business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.54 billion. Enbridge had a return on equity of 6.08% and a net margin of 7.49%. During the same period last year, the company posted $0.47 earnings per share.
Shares of Enbridge (NYSE ENB) traded down $0.03 on Friday, hitting $36.69. The company’s stock had a trading volume of 2,780,000 shares, compared to its average volume of 2,160,000. The company has a market capitalization of $60,700.00, a price-to-earnings ratio of 23.84, a PEG ratio of 2.22 and a beta of 0.64. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.61 and a current ratio of 0.71. Enbridge has a 52-week low of $36.49 and a 52-week high of $44.51.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a $0.474 dividend. The ex-dividend date is Tuesday, November 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.33. This represents a $1.90 annualized dividend and a dividend yield of 5.17%. Enbridge’s payout ratio is presently 128.76%.
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A number of analysts recently commented on ENB shares. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday. GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. BidaskClub lowered Enbridge from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $44.00 price target (down from $45.00) on shares of Enbridge in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Enbridge currently has an average rating of “Hold” and an average target price of $56.00.
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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