Enbridge (NYSE:ENB) Releases Earnings Results, Beats Estimates By $0.15 EPS

Enbridge (NYSE:ENB) (TSE:ENB) issued its earnings results on Wednesday. The pipeline company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15, Briefing.com reports. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $8.54 billion. Enbridge had a return on equity of 8.61% and a net margin of 5.17%. During the same period in the prior year, the company posted $0.67 earnings per share.

ENB traded down $0.20 during midday trading on Friday, reaching $32.00. 2,646,005 shares of the company were exchanged, compared to its average volume of 2,689,048. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.53 and a current ratio of 0.61. Enbridge has a one year low of $22.57 and a one year high of $43.15. The stock has a market capitalization of $64.81 billion, a P/E ratio of 45.71, a PEG ratio of 1.72 and a beta of 0.83. The stock’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $33.26.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.6021 per share. The ex-dividend date is Thursday, August 13th. This represents a $2.41 dividend on an annualized basis and a yield of 7.53%. This is a boost from Enbridge’s previous quarterly dividend of $0.57. Enbridge’s dividend payout ratio (DPR) is 115.00%.

ENB has been the subject of a number of recent research reports. Raymond James restated a “buy” rating and issued a $55.00 target price on shares of Enbridge in a research note on Thursday. Tudor Pickering reiterated a “buy” rating and set a $50.00 price objective on shares of Enbridge in a research note on Tuesday. JPMorgan Chase & Co. upgraded 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. Royal Bank of Canada dropped their price objective on Enbridge from $61.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, CIBC increased their price objective on Enbridge from $47.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and an average target price of $51.59.

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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