Enbridge Stock – FY2021 EPS Estimates for Enbridge Inc. Increased by National Bank Financial (NYSE:ENB)
Enbridge Inc. (NYSE:ENB) (TSE:ENB) – National Bank Financial raised their FY2021 earnings per share (EPS) estimates for shares of Enbridge in a research note issued to investors on Sunday, May 9th. National Bank Financial analyst P. Kenny now forecasts that the pipeline company will post earnings per share of $2.11 for the year, up from their previous estimate of $1.95. National Bank Financial currently has a “Outperform” rating on the stock.
Other analysts also recently issued reports about the stock. TD Securities increased their price target on shares of Enbridge from $53.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, February 16th. Stifel Nicolaus lowered their price target on Enbridge from $58.00 to $57.00 and set a “buy” rating for the company in a report on Tuesday, February 16th. Credit Suisse Group boosted their price objective on Enbridge from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, January 29th. Finally, CIBC dropped their target price on shares of Enbridge from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, February 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.00.
NYSE ENB opened at $40.05 on Tuesday. Enbridge has a 12 month low of $26.97 and a 12 month high of $40.35. The stock has a 50-day simple moving average of $37.45 and a 200 day simple moving average of $34.03. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $81.12 billion, a PE ratio of 56.41, a P/E/G ratio of 2.48 and a beta of 0.82. Enbridge (NYSE:ENB) (TSE:ENB) last released its quarterly earnings results on Thursday, February 11th. The pipeline company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.10. The business had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $10.04 billion. Enbridge had a net margin of 5.57% and a return on equity of 8.50%. During the same period in the prior year, the firm earned $0.61 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a dividend of $0.6778 per share. This is a boost from Enbridge’s previous quarterly dividend of $0.65. The ex-dividend date is Thursday, May 13th. This represents a $2.71 annualized dividend and a yield of 6.77%. Enbridge’s dividend payout ratio is presently 130.50%.
Large investors have recently modified their holdings of the business. Norges Bank acquired a new position in Enbridge during the fourth quarter worth $582,273,000. Amundi Pioneer Asset Management Inc. lifted its holdings in Enbridge by 660.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 6,038,812 shares of the pipeline company’s stock worth $193,182,000 after purchasing an additional 5,244,379 shares during the last quarter. Rare Infrastructure Ltd boosted its position in shares of Enbridge by 475.4% in the fourth quarter. Rare Infrastructure Ltd now owns 4,513,237 shares of the pipeline company’s stock valued at $144,378,000 after acquiring an additional 3,728,901 shares during the period. Russell Investments Group Ltd. grew its position in shares of Enbridge by 229.4% during the 1st quarter. Russell Investments Group Ltd. now owns 3,592,086 shares of the pipeline company’s stock worth $130,819,000 after purchasing an additional 2,501,742 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Enbridge by 18.3% in the 4th quarter. Toronto Dominion Bank now owns 13,460,727 shares of the pipeline company’s stock valued at $449,346,000 after buying an additional 2,085,103 shares in the last quarter. 51.11% of the stock is currently owned by hedge funds and other institutional investors.
Enbridge Inc 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.
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