Analysts Offer Predictions for Enbridge Inc’s FY2017 Earnings (ENB)
Enbridge Inc (NYSE:ENB) (TSE:ENB) – Investment analysts at National Bank Financial boosted their FY2017 earnings per share (EPS) estimates for Enbridge in a note issued to investors on Wednesday. National Bank Financial analyst P. Kenny now expects that the pipeline company will post earnings of $1.55 per share for the year, up from their previous estimate of $1.54.
ENB has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Enbridge from a “hold” rating to a “sell” rating in a report on Tuesday, October 31st. GMP Securities lowered shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Morgan Stanley cut their price objective on shares of Enbridge from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Friday, November 17th. BidaskClub upgraded shares of Enbridge from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $54.00 price objective on shares of Enbridge in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $52.00.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings data on Thursday, November 2nd. The pipeline company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. Enbridge had a net margin of 7.49% and a return on equity of 5.62%. The firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter in the previous year, the business posted $0.47 EPS.
Institutional investors have recently modified their holdings of the company. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Enbridge in the 2nd quarter valued at about $2,812,000. Global X MANAGEMENT CO LLC raised its stake in shares of Enbridge by 0.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 676,054 shares of the pipeline company’s stock valued at $28,286,000 after purchasing an additional 4,162 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Enbridge by 5.3% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 155,772 shares of the pipeline company’s stock valued at $6,518,000 after buying an additional 7,820 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Enbridge by 8.1% during the 2nd quarter. Scotia Capital Inc. now owns 4,590,960 shares of the pipeline company’s stock valued at $182,901,000 after buying an additional 344,339 shares during the last quarter. Finally, Sentry Investments Corp. grew its position in shares of Enbridge by 422.2% during the 2nd quarter. Sentry Investments Corp. now owns 3,027,655 shares of the pipeline company’s stock valued at $156,409,000 after buying an additional 2,447,900 shares during the last quarter. Institutional investors and hedge funds own 62.18% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th will be paid a $0.5278 dividend. This represents a $2.11 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Wednesday, February 14th. This is a positive change from Enbridge’s previous quarterly dividend of $0.47. Enbridge’s dividend payout ratio is 120.76%.
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.
Receive News & Ratings for Enbridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enbridge and related companies with MarketBeat.com's FREE daily email newsletter.