FY2018 EPS Estimates for Enbridge Inc. Decreased by National Bank Financial (ENB)
Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Analysts at National Bank Financial lowered their FY2018 earnings per share estimates for Enbridge in a research report issued to clients and investors on Thursday. National Bank Financial analyst P. Kenny now expects that the company will post earnings per share of $2.66 for the year, down from their previous estimate of $2.70. National Bank Financial currently has a “Outperform” rating and a $60.00 price objective on the stock.
Several other equities analysts have also recently weighed in on ENB. Canaccord Genuity dropped their target price on Enbridge from C$59.00 to C$54.00 in a report on Thursday. Scotiabank dropped their target price on Enbridge from C$61.00 to C$60.00 and set an “outperform” rating for the company in a report on Thursday. CIBC dropped their target price on Enbridge from C$67.00 to C$63.00 in a report on Friday. BMO Capital Markets dropped their target price on Enbridge from C$70.00 to C$66.00 and set an “outperform” rating for the company in a report on Thursday. Finally, TD Securities lifted their target price on Enbridge from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Enbridge presently has an average rating of “Buy” and a consensus target price of C$61.03.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.671 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. This represents a $2.68 dividend on an annualized basis and a yield of 5.52%. Enbridge’s payout ratio is 119.03%.
In other Enbridge news, insider Vernon Dai-Chung Yu sold 13,179 shares of Enbridge stock in a transaction on Monday, October 2nd. The stock was sold at an average price of C$52.07, for a total transaction of C$686,230.53. Also, Director Albert Monaco bought 9,356 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were purchased at an average cost of C$50.02 per share, with a total value of C$467,987.12. Over the last ninety days, insiders have acquired 10,156 shares of company stock valued at $499,357 and have sold 103,999 shares valued at $4,958,443.
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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