Enbridge (TSE:ENB) Announces Quarterly Earnings Results

Enbridge (TSE:ENB) (NYSE:ENB) issued its quarterly earnings results on Friday. The company reported C$0.88 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$17.18 billion for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%.

Enbridge Stock Up 4.1%

ENB stock traded up C$2.93 during trading on Friday, reaching C$73.55. The stock had a trading volume of 4,473,533 shares, compared to its average volume of 8,824,178. The company has a current ratio of 0.62, a quick ratio of 0.44 and a debt-to-equity ratio of 144.86. The firm has a fifty day moving average price of C$65.74 and a 200 day moving average price of C$66.35. The company has a market capitalization of C$160.56 billion, a P/E ratio of 28.84, a PEG ratio of 1.72 and a beta of 0.95. Enbridge has a 1-year low of C$56.51 and a 1-year high of C$73.71.

Wall Street Analysts Forecast Growth

ENB has been the topic of a number of research analyst reports. Raymond James Financial raised their price target on Enbridge from C$74.00 to C$76.00 in a research note on Monday, November 10th. ATB Capital set a C$72.00 target price on shares of Enbridge and gave the stock an “outperform” rating in a research report on Tuesday, December 23rd. Canadian Imperial Bank of Commerce cut their target price on Enbridge from C$71.00 to C$69.00 in a research report on Wednesday, December 17th. Jefferies Financial Group lowered their price target on Enbridge from C$73.00 to C$71.00 in a research report on Tuesday, December 23rd. Finally, JPMorgan Chase & Co. downgraded Enbridge from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from C$74.00 to C$69.00 in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Enbridge has a consensus rating of “Moderate Buy” and an average price target of C$71.31.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.