Zacks: Analysts Expect Enbridge Inc (ENB) to Post $0.39 Earnings Per Share

Equities research analysts expect Enbridge Inc (NYSE:ENB) (TSE:ENB) to announce earnings of $0.39 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Enbridge’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.33. Enbridge reported earnings of $0.62 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 37.1%. The business is expected to announce its next quarterly earnings report on Friday, August 2nd.

According to Zacks, analysts expect that Enbridge will report full-year earnings of $1.91 per share for the current year, with EPS estimates ranging from $1.88 to $1.94. For the next financial year, analysts forecast that the firm will post earnings of $1.91 per share, with EPS estimates ranging from $1.52 to $2.11. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Enbridge.

Enbridge (NYSE:ENB) (TSE:ENB) last announced its quarterly earnings data on Friday, May 10th. The pipeline company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. The firm had revenue of $9.67 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share.

Several brokerages have weighed in on ENB. Zacks Investment Research upgraded Enbridge from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, February 5th. ValuEngine downgraded Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Scotiabank downgraded Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Evercore ISI began coverage on Enbridge in a research report on Tuesday, February 5th. They issued an “outperform” rating for the company. Finally, Macquarie began coverage on Enbridge in a research report on Thursday, January 24th. They issued an “outperform” rating for the company. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $46.46.

ENB stock traded up $0.48 during midday trading on Thursday, hitting $37.53. The company had a trading volume of 3,104,389 shares, compared to its average volume of 3,037,194. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 0.64. Enbridge has a 52 week low of $28.82 and a 52 week high of $37.96. The company has a market capitalization of $75.95 billion, a P/E ratio of 18.31, a PEG ratio of 2.40 and a beta of 0.69.

In other news, insider Allen C. Capps sold 6,514 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $37.02, for a total transaction of $241,148.28. Following the transaction, the insider now directly owns 3,437 shares of the company’s stock, valued at $127,237.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Albert Monaco bought 7,806 shares of Enbridge stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average cost of $49.33 per share, for a total transaction of $385,069.98. The disclosure for this purchase can be found here. 0.42% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ENB. Norges Bank purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $552,827,000. Harvest Fund Advisors LLC purchased a new position in shares of Enbridge during the fourth quarter valued at approximately $263,042,000. Energy Income Partners LLC increased its stake in shares of Enbridge by 6,035.2% during the fourth quarter. Energy Income Partners LLC now owns 7,137,359 shares of the pipeline company’s stock valued at $221,829,000 after buying an additional 7,021,025 shares during the period. Salient Capital Advisors LLC increased its stake in shares of Enbridge by 152.6% during the first quarter. Salient Capital Advisors LLC now owns 10,377,798 shares of the pipeline company’s stock valued at $369,715,000 after buying an additional 6,269,108 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of Enbridge by 64.8% during the fourth quarter. Bank of Nova Scotia now owns 11,871,528 shares of the pipeline company’s stock valued at $368,967,000 after buying an additional 4,667,244 shares during the period. 56.95% of the stock is currently owned by hedge funds and other institutional investors.

About Enbridge

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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