US Capital Advisors Expects Higher Earnings for Enbridge

by · The Cerbat Gem

Enbridge Inc. (NYSE:ENB – Free Report) (TSE:ENB) – US Capital Advisors increased their Q4 2024 earnings per share estimates for Enbridge in a report released on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the pipeline company will post earnings of $0.57 per share for the quarter, up from their prior forecast of $0.55. The consensus estimate for Enbridge’s current full-year earnings is $2.08 per share.

Enbridge (NYSE:ENB – Get Free Report) (TSE:ENB) last issued its quarterly earnings results on Friday, August 2nd. The pipeline company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $4.28 billion. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. During the same period in the previous year, the company earned $0.51 earnings per share.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group cut Enbridge from a “buy” rating to a “hold” rating in a research report on Monday, September 30th. Morgan Stanley assumed coverage on Enbridge in a research report on Friday, October 25th. They set an “equal weight” rating on the stock.

Read Our Latest Analysis on Enbridge

Enbridge Stock Performance

ENB opened at $40.42 on Wednesday. The stock has a market cap of $86.24 billion, a PE ratio of 20.52, a P/E/G ratio of 4.00 and a beta of 0.93. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.34. Enbridge has a 1 year low of $31.47 and a 1 year high of $42.16. The stock’s 50 day simple moving average is $40.66 and its 200-day simple moving average is $37.85.

Institutional Trading of Enbridge

A number of large investors have recently bought and sold shares of ENB. TruNorth Capital Management LLC bought a new stake in Enbridge in the second quarter valued at $28,000. William B. Walkup & Associates Inc. bought a new stake in shares of Enbridge during the second quarter worth $28,000. Ameritas Investment Partners Inc. bought a new stake in shares of Enbridge during the first quarter worth $29,000. Richardson Financial Services Inc. bought a new stake in shares of Enbridge during the first quarter worth $31,000. Finally, Grove Bank & Trust grew its holdings in shares of Enbridge by 56.7% during the third quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 279 shares during the last quarter. 54.60% of the stock is currently owned by institutional investors.

Enbridge Company Profile

(Get Free Report)

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.

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