In the last trading session, 4.67 million shares of the Enbridge Inc (NYSE:ENB) were traded, and its beta was 0.85. Most recently the company’s share price was $35.83, and it changed around -$0.35 or -0.97% from the last close, which brings the market valuation of the company to $76.16B. ENB currently trades at a discount to its 52-week high of $40.30, offering almost -12.48% off that amount. The share price’s 52-week low was $31.03, which indicates that the current value has risen by an impressive 13.4% since then. We note from Enbridge Inc’s average daily trading volume that its 10-day average is 3.86 million shares, with the 3-month average coming to 5.50 million.
Enbridge Inc stock received a consensus recommendation rating of Hold, based on a mean score of 2.22. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended ENB as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Enbridge Inc is expected to report earnings per share of $0.59 for the current quarter.
Enbridge Inc (NYSE:ENB) trade information
Instantly ENB has showed a red trend with a performance of -0.97% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -0.53% year-to-date, but still up 1.07% over the last five days. On the other hand, Enbridge Inc (NYSE:ENB) is 4.10% up in the 30-day period. We can see from the shorts that 25.21 million shares have been sold at a short interest cover period of 4.52 day(s).
The consensus price target as assigned by Wall Street analysts is $44.17, which translates to bulls needing to increase their stock price by 18.88% from its current value. Analyst projections state that ENB is forecast to be at a low of $42.17461909 and a high of $47.7448518.
Enbridge Inc (ENB) estimates and forecasts
Enbridge Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 6.83 percent over the past six months and at a 1.93% annual growth rate that is well below the industry average of 4.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -7.80% in revenue this quarter, and will report a decrease of -8.00% in the next quarter. The year-over-year growth rate is expected to be 4.40%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $9.94 billion in revenue for the current quarter. 2 analysts expect Enbridge Inc to make $7.8 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $12.07 billion and $7.64 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -17.60%. Forecasts for the next quarter put sales growth at 2.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 13.31%. Enbridge Inc earnings are expected to increase by 0.04% in 2024, but the outlook is positive 3.05% per year for the next five years.
ENB Dividends
Enbridge Inc’s next quarterly earnings report is expected to be released around May 03 and May 07. The annual dividend yield of the stock is 7.38 percent and its annual dividend per share was 2.64. It is important to note, however, that the 7.38% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Enbridge Inc (NYSE:ENB)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.10% of Enbridge Inc shares, and 53.81% of them are in the hands of institutional investors. The stock currently has a share float of 53.87%. Enbridge Inc stock is held by 1,547 institutions, with Royal Bank of Canada being the largest institutional investor. By Jun 29, 2023, it held 7.07% of the shares, which is about 150.22 million shares worth $5.58 billion.
Vanguard Group Inc, with 3.63% or 77.09 million shares worth $2.86 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard International Stock Index-Total Intl Stock Indx and Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 27.03 million shares worth $994.74 million, making up 1.27% of all outstanding shares. On the other hand, Vanguard Tax Managed Fund-Vanguard Developed Markets Index Fund held roughly 16.04 million shares worth around $595.84 million, which represents about 0.75% of the total shares outstanding.
