Enbridge Inc reported quarterly adjusted earnings of 59 cents per share for the quarter ended in September. The mean expectation of sixteen analysts for the quarter was for earnings of 57 cents per share.
Revenue rose 25.9% to C$11.47 billion from a year ago; analysts expected C$9.99 billion. Enbridge Inc’s reported EPS for the quarter was 34 cents. The mean earnings estimate of analysts had fallen by about 1.1% in the last three months. In the last 30 days two analysts negatively revised earnings estimates.
Enbridge Inc shares had risen by 3.7% this quarter and gained 28.5% so far this year. The company reported quarterly net income of C$682 million. Wall Street’s median 12-month price target for Enbridge Inc is C$55.00. The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 18 “strong buy” or “buy,” 4 “hold” and no “sell” or “strong sell.”