Enbridge Inc. to Post FY2018 Earnings of $2.66 Per Share, National Bank Financial Forecasts (ENB)
Enbridge Inc. (TSE:ENB) (NYSE:ENB) – Investment analysts at National Bank Financial lowered their FY2018 earnings estimates for Enbridge in a research note issued on Thursday. National Bank Financial analyst P. Kenny now forecasts that the company will post earnings per share of $2.66 for the year, down from their prior estimate of $2.70. National Bank Financial has a “Outperform” rating and a $60.00 price objective on the stock.
Several other equities research analysts have also issued reports on ENB. Canaccord Genuity decreased their target price on Enbridge from C$59.00 to C$54.00 in a research report on Thursday, November 30th. Scotiabank decreased their price objective on Enbridge from C$61.00 to C$60.00 and set an “outperform” rating for the company in a report on Thursday, November 30th. CIBC decreased their price objective on Enbridge from C$67.00 to C$63.00 in a report on Friday. BMO Capital Markets decreased their price objective on Enbridge from C$70.00 to C$66.00 and set an “outperform” rating for the company in a report on Thursday, November 30th. Finally, TD Securities lifted their price objective on Enbridge from C$62.00 to C$64.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Enbridge presently has a consensus rating of “Buy” and an average price target of C$61.03.
Shares of Enbridge (TSE:ENB) traded up C$0.09 during trading on Monday, hitting C$48.77. The stock had a trading volume of 2,877,143 shares, compared to its average volume of 3,002,046. Enbridge has a 1 year low of C$43.91 and a 1 year high of C$58.28.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be issued a $0.671 dividend. The ex-dividend date is Wednesday, February 14th. This represents a $2.68 annualized dividend and a yield of 5.50%. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s dividend payout ratio (DPR) is 119.03%.
In other Enbridge news, insider Laszlo Varsanyi sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of C$23.85, for a total value of C$64,395.00. Also, Director Wanda Marie Opheim sold 28,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of C$51.00, for a total value of C$1,428,000.00. In the last three months, insiders purchased 10,156 shares of company stock valued at $499,357 and sold 103,999 shares valued at $4,958,443.
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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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