Enbridge (NYSE:ENB) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Enbridge (NYSE:ENB) (TSE:ENB) announced its quarterly earnings results on Friday. The pipeline company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04, Zacks reports. Enbridge had a net margin of 10.04% and a return on equity of 10.16%. The business had revenue of $7.27 billion for the quarter, compared to analyst estimates of $10.20 billion. During the same quarter in the prior year, the business earned $0.92 EPS.

Enbridge Trading Up 0.7 %

NYSE:ENB opened at $46.10 on Friday. Enbridge has a 52 week low of $34.60 and a 52 week high of $47.08. The firm has a 50-day moving average price of $44.24 and a two-hundred day moving average price of $43.31. The firm has a market cap of $100.50 billion, a price-to-earnings ratio of 26.80, a price-to-earnings-growth ratio of 3.92 and a beta of 0.84. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.55.

Enbridge Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Thursday, May 15th will be given a dividend of $0.679 per share. This is a positive change from Enbridge’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Thursday, May 15th. Enbridge’s dividend payout ratio (DPR) is presently 157.56%.

Institutional Investors Weigh In On Enbridge

A hedge fund recently bought a new stake in Enbridge stock. Brighton Jones LLC acquired a new stake in Enbridge Inc. (NYSE:ENB) (TSE:ENB) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,151 shares of the pipeline company’s stock, valued at approximately $261,000. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analysts Set New Price Targets

ENB has been the topic of a number of recent research reports. Citigroup assumed coverage on shares of Enbridge in a research report on Friday, April 4th. They set a “buy” rating on the stock. CIBC restated an “outperform” rating on shares of Enbridge in a research note on Wednesday, March 5th. Royal Bank of Canada upped their price objective on shares of Enbridge from $63.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Raymond James raised Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Finally, TD Securities began coverage on Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.