Enbridge Inc (ENB) to Post Q3 2017 Earnings of $0.35 Per Share, National Bank Financial Forecasts
Enbridge Inc (NYSE:ENB) (TSE:ENB) – Investment analysts at National Bank Financial issued their Q3 2017 EPS estimates for shares of Enbridge in a report released on Monday. National Bank Financial analyst P. Kenny forecasts that the pipeline company will post earnings per share of $0.35 for the quarter.
Other research analysts have also issued reports about the company. Morgan Stanley reiterated an “equal weight” rating and issued a $44.00 price objective (down from $45.00) on shares of Enbridge in a research report on Friday, July 14th. BidaskClub upgraded Enbridge from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 24th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Enbridge in a research report on Friday, June 23rd. Zacks Investment Research lowered Enbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, GMP Securities lowered Enbridge from a “buy” rating to a “hold” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $56.00.
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Shares of Enbridge (NYSE:ENB) opened at 40.33 on Wednesday. The company’s 50 day moving average price is $41.14 and its 200-day moving average price is $40.55. The company has a market capitalization of $66.38 billion, a price-to-earnings ratio of 31.66 and a beta of 0.65. Enbridge has a 52 week low of $37.37 and a 52 week high of $44.52.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, August 3rd. The pipeline company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). Enbridge had a return on equity of 6.04% and a net margin of 5.28%. The business had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.81 billion. During the same period in the prior year, the business posted $0.50 earnings per share.
A number of large investors have recently added to or reduced their stakes in ENB. Monroe Bank & Trust MI acquired a new position in Enbridge during the first quarter worth $105,000. NEXT Financial Group Inc lifted its stake in Enbridge by 17.7% during the second quarter. NEXT Financial Group Inc now owns 2,731 shares of the pipeline company’s stock worth $109,000 after purchasing an additional 411 shares in the last quarter. First Personal Financial Services lifted its stake in Enbridge by 16.4% during the second quarter. First Personal Financial Services now owns 2,825 shares of the pipeline company’s stock worth $112,000 after purchasing an additional 397 shares in the last quarter. Welch Group LLC acquired a new position in Enbridge during the second quarter worth $121,000. Finally, San Francisco Sentry Investment Group CA acquired a new position in Enbridge during the second quarter worth $159,000. Institutional investors own 61.57% of the company’s stock.
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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