What to Expect from Enbridge Q2 Earnings Report

Enbridge Inc

On Friday, July 29th, before the market opens, the North American energy infrastructure business Enbridge (NYSE:ENB) is expected to report Q2 earnings results.

The consensus Revenue Estimate is C$12.32B, driven by consistent fee-based revenues, while the consensus EPS Estimate is C$0.70 (+4.5 percent Y/Y). More details about the business and its anticipated earnings are provided below:

  • Due to a positive situation for oil pricing, exploration and production operations most likely increased in Q2.
  • The company published a 2022 financial projection, suggesting a strong EBITDA & DCF growth forecast; it sees 5-7 percent CAGR through 2024 in its DCF/share. This was driven mostly by greater shipment volumes.
  • Enbridge updated its guidance for adj. in FY22. EBITDA was between C$15 and C$15.6 billion, with C$5.20-C$5.50 in distributable cash flow per share.

In the past two years, ENB has surpassed EPS forecasts 50% of the time and revenue forecasts 0% of the time. EPS projections have seen 1 upward revision and 7 lower revisions in the last three months. There have been 0 upward and 1 downward revisions to revenue predictions.

12 of the 22 Wall Street analysts who are following the stock have given it a Hold rating, while 5 have given it a Strong Buy and Buy rating, respectively.

This week, U.S. Capital Advisors reduced the stock’s rating from Overweight to Hold and set a target price of C$56.

Quant’s rating is at Hold, while SA Authors’ rating is at Buy. With a yield (TTM) of 6% and a recent dividend declaration of C$0.86 per share, the stock has increased 14.1 percent YTD, nearly reaching 52-week high levels.

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