Enbridge Q3 EPS Forecast Decreased by US Capital Advisors

Enbridge Inc. (NYSE:ENB) (TSE:ENB) – US Capital Advisors reduced their Q3 2024 earnings per share estimates for Enbridge in a note issued to investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now expects that the pipeline company will earn $0.44 per share for the quarter, down from their previous estimate of $0.45. The consensus estimate for Enbridge’s current full-year earnings is $2.08 per share. US Capital Advisors also issued estimates for Enbridge’s Q1 2025 earnings at $0.60 EPS, Q3 2025 earnings at $0.38 EPS, FY2025 earnings at $2.01 EPS and FY2026 earnings at $2.02 EPS.

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

Enbridge Price Performance

NYSE:ENB opened at $40.42 on Tuesday. Enbridge has a 52 week low of $31.47 and a 52 week high of $42.16. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.68 and a current ratio of 0.77. The firm’s 50-day simple moving average is $40.66 and its 200 day simple moving average is $37.85. The firm has a market cap of $86.24 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 4.00 and a beta of 0.93.

Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings data on Friday, August 2nd. The pipeline company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.13. Enbridge had a return on equity of 10.07% and a net margin of 13.31%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the business earned $0.51 EPS.

Hedge Funds Weigh In On Enbridge

Several hedge funds and other institutional investors have recently made changes to their positions in ENB. Richardson Financial Services Inc. increased its stake in Enbridge by 28.4% in the third quarter. Richardson Financial Services Inc. now owns 1,112 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 246 shares during the last quarter. First PREMIER Bank increased its stake in shares of Enbridge by 1.7% in the 3rd quarter. First PREMIER Bank now owns 15,534 shares of the pipeline company’s stock valued at $631,000 after purchasing an additional 257 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of Enbridge by 56.7% during the 3rd quarter. Grove Bank & Trust now owns 771 shares of the pipeline company’s stock worth $31,000 after buying an additional 279 shares in the last quarter. MFA Wealth Advisors LLC lifted its position in shares of Enbridge by 55.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 784 shares of the pipeline company’s stock worth $32,000 after buying an additional 280 shares during the last quarter. Finally, Rockwood Wealth Management LLC boosted its stake in Enbridge by 2.6% in the second quarter. Rockwood Wealth Management LLC now owns 11,107 shares of the pipeline company’s stock valued at $395,000 after buying an additional 285 shares in the last quarter. 54.60% of the stock is currently 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.