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

Enbridge (NYSE:ENB) (TSE:ENB) issued its quarterly earnings data on Friday. The pipeline company reported $0.72 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $10.20 billion. During the same period last year, the company posted $0.92 EPS.

Enbridge Stock Up 0.7 %

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

Enbridge Increases Dividend

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

Analyst Upgrades and Downgrades

ENB has been the subject of a number of analyst reports. Citigroup assumed coverage on Enbridge in a report on Friday, April 4th. They issued a “buy” rating for the company. CIBC reissued an “outperform” rating on shares of Enbridge in a research report on Wednesday, March 5th. TD Securities initiated coverage on shares of Enbridge in a research report on Wednesday, January 15th. They set a “buy” rating on the stock. Royal Bank of Canada boosted their price target on Enbridge from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Raymond James upgraded Enbridge to a “moderate buy” rating in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Enbridge stock. Brighton Jones LLC bought a new position in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,151 shares of the pipeline company’s stock, valued at approximately $261,000. 54.60% of the stock is owned by institutional investors and hedge funds.

Enbridge Company Profile

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.