Enbridge (ENB) Posts Earnings Results, Beats Estimates By $0.09 EPS

Enbridge (NYSE:ENB) (TSE:ENB) announced its quarterly earnings data on Friday. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09, Morningstar.com reports. Enbridge had a net margin of 5.64% and a return on equity of 8.72%. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the company posted $0.82 EPS.

Shares of Enbridge stock traded up $0.30 during mid-day trading on Friday, reaching $36.85. 4,505,383 shares of the stock were exchanged, compared to its average volume of 2,793,246. The stock has a market capitalization of $74.57 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 2.47 and a beta of 0.69. The company has a quick ratio of 0.49, a current ratio of 0.58 and a debt-to-equity ratio of 0.92. Enbridge has a fifty-two week low of $28.82 and a fifty-two week high of $37.96.

In other Enbridge news, insider William T. Yardley sold 14,900 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total transaction of $551,002.00. Following the sale, the insider now owns 94,770 shares of the company’s stock, valued at approximately $3,504,594.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Allen C. Capps sold 6,514 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $37.02, for a total transaction of $241,148.28. Following the sale, the insider now directly owns 3,437 shares in the company, valued at approximately $127,237.74. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

A number of large investors have recently modified their holdings of ENB. Parkside Financial Bank & Trust boosted its stake in shares of Enbridge by 58.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 812 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 300 shares during the last quarter. Front Row Advisors LLC boosted its stake in shares of Enbridge by 3,985.7% in the 4th quarter. Front Row Advisors LLC now owns 858 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 837 shares during the last quarter. Rockland Trust Co. bought a new position in shares of Enbridge in the 4th quarter valued at about $28,000. We Are One Seven LLC bought a new position in shares of Enbridge in the 4th quarter valued at about $28,000. Finally, Mackey Komara & Dankovich LLC bought a new position in shares of Enbridge in the 4th quarter valued at about $31,000. 56.65% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on ENB shares. Scotiabank cut shares of Enbridge from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 4th. National Bank Financial cut shares of Enbridge from an “outperform” rating to a “sector perform” rating and set a $35.75 price objective for the company. in a research note on Monday, March 4th. CIBC restated a “buy” rating and issued a $57.00 price objective on shares of Enbridge in a research note on Tuesday, January 15th. Barclays began coverage on shares of Enbridge in a research note on Tuesday, April 9th. They issued an “overweight” rating for the company. Finally, Credit Suisse Group cut shares of Enbridge from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $46.46.

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Enbridge Company Profile

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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Earnings History for Enbridge (NYSE:ENB)

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