Enbridge Income Fund (ENF) Releases Earnings Results, Beats Expectations By $0.01 EPS

Enbridge Income Fund (TSE:ENF) announced its quarterly earnings data on Friday, November 2nd. The company reported C$0.64 EPS for the quarter, topping the consensus estimate of C$0.63 by C$0.01, Morningstar.com reports. The company had revenue of C$114.00 million during the quarter, compared to the consensus estimate of C$113.14 million.

Shares of ENF traded down C$0.40 during mid-day trading on Friday, reaching C$31.88. The company’s stock had a trading volume of 4,709,600 shares, compared to its average volume of 585,434. Enbridge Income Fund has a 52 week low of C$26.36 and a 52 week high of C$34.29.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 15th will be issued a $0.1883 dividend. This represents a $2.26 dividend on an annualized basis and a dividend yield of 7.09%. This is a positive change from Enbridge Income Fund’s previous monthly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, October 30th. Enbridge Income Fund’s payout ratio is presently 77.18%.

ENF has been the topic of several research reports. CIBC lowered their price objective on shares of Enbridge Income Fund from C$31.60 to C$30.75 in a research report on Monday, November 5th. CSFB lifted their target price on shares of Enbridge Income Fund from C$28.00 to C$32.00 in a research note on Tuesday, October 23rd. BMO Capital Markets boosted their price objective on shares of Enbridge Income Fund from C$33.00 to C$34.00 in a research note on Tuesday, September 11th. Royal Bank of Canada boosted their price objective on shares of Enbridge Income Fund from C$31.00 to C$34.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 7th. Finally, National Bank Financial reduced their price objective on shares of Enbridge Income Fund from C$32.50 to C$30.50 and set a “tender” rating for the company in a research note on Monday, November 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Enbridge Income Fund presently has a consensus rating of “Hold” and an average target price of C$32.41.

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About Enbridge Income Fund

Enbridge Income Fund Holdings Inc, through its investment in Enbridge Income Fund, holds energy infrastructure assets in Canada. The company holds interests in the 2,306-kilometre Canadian Mainline, the Regional Oil Sands System, and Southern Lights Pipeline, as well as other crude oil gathering pipelines and storage facilities in Alberta, Saskatchewan, Manitoba, Ontario, and Quebec; and crude oil storage terminals and caverns in Hardisty, Alberta.

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Earnings History for Enbridge Income Fund (TSE:ENF)

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