Enbridge Inc (NYSE:ENB) Expected to Post Q2 2020 Earnings of $0.41 Per Share
Enbridge Inc (NYSE:ENB) (TSE:ENB) – Raymond James issued their Q2 2020 earnings per share estimates for shares of Enbridge in a note issued to investors on Wednesday, July 8th. Raymond James analyst C. Cox anticipates that the pipeline company will earn $0.41 per share for the quarter. Raymond James has a “Outperform” rating and a $55.00 price target on the stock. Raymond James also issued estimates for Enbridge’s Q3 2020 earnings at $0.43 EPS, Q4 2020 earnings at $0.51 EPS, FY2020 earnings at $1.95 EPS, FY2021 earnings at $2.15 EPS and FY2022 earnings at $2.54 EPS.
A number of other research analysts have also recently commented on the stock. CIBC reduced their price target on shares of Enbridge from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Wells Fargo & Co reissued a “buy” rating on shares of Enbridge in a research note on Tuesday, April 14th. JPMorgan Chase & Co. raised Enbridge from a “neutral” rating to an “overweight” rating and set a $56.00 price objective for the company in a research note on Wednesday, April 8th. Stifel Nicolaus increased their price objective on Enbridge from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group raised Enbridge from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $52.00.
Enbridge (NYSE:ENB) (TSE:ENB) last issued its quarterly earnings results on Thursday, May 7th. The pipeline company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.32. Enbridge had a net margin of 4.88% and a return on equity of 8.84%. The business had revenue of $8.96 billion for the quarter, compared to analysts’ expectations of $8.52 billion. During the same period last year, the business earned $0.81 earnings per share.
Hedge funds have recently made changes to their positions in the stock. Johnson Financial Group Inc. lifted its stake in Enbridge by 112.3% in the first quarter. Johnson Financial Group Inc. now owns 930 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 492 shares during the period. MBE Wealth Management LLC bought a new position in Enbridge in the first quarter worth $33,000. Keebeck Wealth Management LLC bought a new position in Enbridge in the fourth quarter worth $37,000. Allworth Financial LP raised its holdings in Enbridge by 33.9% in the first quarter. Allworth Financial LP now owns 1,409 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 357 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC bought a new position in Enbridge in the first quarter worth $41,000. 54.64% of the stock is owned by institutional investors.
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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