Enbridge Inc to Post FY2019 Earnings of $1.88 Per Share, National Bank Financial Forecasts (ENB)

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Enbridge Inc (NYSE:ENB) (TSE:ENB) – National Bank Financial boosted their FY2019 earnings per share estimates for Enbridge in a research note issued on Monday, May 13th. National Bank Financial analyst P. Kenny now expects that the pipeline company will earn $1.88 per share for the year, up from their previous estimate of $1.49. National Bank Financial has a “Outperform Overweight” rating on the stock. National Bank Financial also issued estimates for Enbridge’s FY2020 earnings at $1.84 EPS.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, May 10th. The pipeline company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. Enbridge had a return on equity of 8.31% and a net margin of 9.09%. The firm had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the business posted $0.82 earnings per share.

Several other research firms have also recently issued reports on ENB. Wells Fargo & Co reiterated a “buy” rating on shares of Enbridge in a research report on Monday, February 18th. Scotia Howard Weill cut Enbridge from an “outperform” rating to a “sector perform” rating in a research report on Monday, March 4th. Zacks Investment Research cut Enbridge from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Bank of America reiterated a “buy” rating on shares of Enbridge in a research report on Tuesday, March 5th. Finally, UBS Group cut Enbridge from a “buy” rating to a “neutral” rating in a research report on Friday, February 8th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $46.46.

NYSE:ENB opened at $37.05 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.64 and a quick ratio of 0.49. Enbridge has a 12-month low of $28.82 and a 12-month high of $37.96. The stock has a market cap of $73.77 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 2.51 and a beta of 0.69.

In other news, insider Albert Monaco purchased 7,806 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average price of $49.33 per share, for a total transaction of $385,069.98. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider William T. Yardley sold 14,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $36.98, for a total value of $551,002.00. Following the transaction, the insider now owns 94,770 shares of the company’s stock, valued at approximately $3,504,594.60. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Laurel Wealth Advisors Inc. boosted its holdings in shares of Enbridge by 1.5% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 43,999 shares of the pipeline company’s stock worth $1,595,000 after purchasing an additional 639 shares during the period. Thomasville National Bank boosted its holdings in shares of Enbridge by 5.6% in the 1st quarter. Thomasville National Bank now owns 418,798 shares of the pipeline company’s stock worth $15,185,000 after purchasing an additional 22,370 shares during the period. Financial Advocates Investment Management boosted its holdings in shares of Enbridge by 32.4% in the 1st quarter. Financial Advocates Investment Management now owns 7,693 shares of the pipeline company’s stock worth $279,000 after purchasing an additional 1,881 shares during the period. Jane Street Group LLC boosted its holdings in shares of Enbridge by 17.9% in the 1st quarter. Jane Street Group LLC now owns 99,075 shares of the pipeline company’s stock worth $3,592,000 after purchasing an additional 15,060 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Enbridge by 14.8% in the 1st quarter. HighTower Advisors LLC now owns 311,575 shares of the pipeline company’s stock worth $11,303,000 after purchasing an additional 40,142 shares during the period. Institutional investors and hedge funds own 56.95% of the company’s stock.

Enbridge Company Profile

Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.

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