In the latest trading session, 1.23 million Enbridge Inc (NYSE:ENB) shares changed hands as the company’s beta touched 0.84. With the company’s most recent per share price at $35.62 changed hands at -$0.03 or -0.08% at last look, the market valuation stands at $75.71B. ENB’s current price is a discount, trading about -13.14% off its 52-week high of $40.30. The share price had its 52-week low at $31.03, which suggests the last value was 12.89% up since then. When we look at Enbridge Inc’s average trading volume, we note the 10-day average is 3.53 million shares, with the 3-month average coming to 5.45 million.
Enbridge Inc (NYSE:ENB) trade information
Instantly ENB was in red as seen in intraday trades today. With action -1.30%, the performance over the past five days has been red. The drop to weekly highs of 36.22 subtracted -0.08% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.11%, with the 5-day performance at -1.30% in the red. However, in the 30-day time frame, Enbridge Inc (NYSE:ENB) is 3.28% up. Looking at the short shares, we see there were 23.17 million shares sold at short interest cover period of 3.24 days.
Enbridge Inc (ENB) estimates and forecasts
Data shows that the Enbridge Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 5.73% over the past 6 months, a 1.93% in annual growth rate that is considerably lower than the industry average of 4.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Enbridge Inc will fall -7.80%, while the growth in revenue is estimated to hit -8.00% for the next quarter. Year-over-year growth is forecast to reach 4.40% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $9.89 billion. 2 analysts are of the opinion that Enbridge Inc’s revenue for the quarter ending Jun 2024 will be $7.75 billion. The company’s revenue for the corresponding quarters a year ago was $12.07 billion and $7.64 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -18.10%. The estimates for the next quarter sales put growth at 1.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 13.31%. The 2024 estimates are for Enbridge Inc earnings to increase by 0.04%, but the outlook for the next 5-year period is at 3.05% per year.
ENB Dividends
Enbridge Inc is expected to release its next quarterly earnings report between May 03 and May 07. The 7.42% annual yield figure for the share gives it an annual dividend of 2.64. It is important to note, however, that the 7.42% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Enbridge Inc (NYSE:ENB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.10% of Enbridge Inc shares while 53.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 53.87%. There are 53.81% institutions holding the Enbridge Inc stock share, with Royal Bank of Canada the top institutional holder. As of Jun 29, 2023, the company held 7.07% of the shares, roughly 150.22 million ENB shares worth $5.58 billion.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 3.63% or 77.09 million shares worth $2.86 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund. With 27.03 million shares estimated at $994.74 million under it, the former controlled 1.27% of total outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held about 0.75% of the shares, roughly 16.04 million shares worth around $595.84 million.
