Analysts Set Expectations for Enbridge Inc’s FY2019 Earnings (ENB)

Enbridge Inc (TSE:ENB) (NYSE:ENB) – Investment analysts at National Bank Financial issued their FY2019 earnings per share estimates for Enbridge in a research report issued on Tuesday. National Bank Financial analyst P. Kenny expects that the company will post earnings of $2.31 per share for the year. National Bank Financial has a “Outperform” rating and a $60.00 price objective on the stock.

Several other brokerages have also issued reports on ENB. CIBC decreased their target price on Enbridge from C$71.00 to C$69.00 in a research report on Tuesday, October 17th. TD Securities decreased their target price on Enbridge from C$62.00 to C$61.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Royal Bank of Canada decreased their price objective on Enbridge from C$63.00 to C$59.00 and set an “outperform” rating for the company in a report on Wednesday, December 13th. BMO Capital Markets reissued an “outperform” rating and issued a C$66.00 price objective on shares of Enbridge in a report on Wednesday, December 13th. Finally, Scotiabank decreased their price objective on Enbridge from C$62.00 to C$61.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Enbridge presently has an average rating of “Buy” and an average price target of C$60.16.

Shares of Enbridge (TSE:ENB) traded down C$0.57 during trading on Thursday, hitting C$42.79. The stock had a trading volume of 4,149,500 shares, compared to its average volume of 2,990,000. Enbridge has a 1 year low of C$42.00 and a 1 year high of C$57.75. The stock has a market cap of $72,190.00, a price-to-earnings ratio of 21.83 and a beta of 0.18.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, November 29th will be issued a $0.671 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $2.68 annualized dividend and a yield of 6.27%. This is a positive change from Enbridge’s previous quarterly dividend of $0.61. Enbridge’s dividend payout ratio (DPR) is 119.03%.

In related news, Director Michael E.J. Phelps sold 900 shares of Enbridge stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$50.06, for a total value of C$45,054.00. Also, insider Bradley Francis Shamla sold 3,019 shares of Enbridge stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$50.00, for a total value of C$150,950.00. In the last three months, insiders sold 16,419 shares of company stock valued at $752,365.

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About Enbridge

Enbridge Inc is a Canada-based energy transportation and distribution company. The Company is engaged in delivering energy. It operates through five segments: Liquids Pipelines, Gas Distribution, Gas Pipelines and Processing, Green Power and Transmission, and Energy Services. Liquids Pipelines consists of common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals, including Canadian Mainline, Lakehead Pipeline System, Mid-Continent and Gulf Coast and Regional Oil Sands System.

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