Enbridge (NYSE: ENB) (TSE: ENB) reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at C$0.67, which beat analysts’ consensus estimate of C$0.65 per share.
However, sales increased 0.9% year-over-year, with revenue hitting C$11.57 billion. This missed analysts’ target by C$900 million.
Looking forward, management reaffirmed its guidance, expecting EBITDA and distributable cash flow per share for Fiscal Year 2022 to be in the ranges of C$15 billion to C$15.6 billion and C$5.20 to C$5.50, respectively.
Is ENB Stock a Buy or Sell?
ENB has a Moderate Buy consensus rating based on six Buys, four Holds, and zero Sells assigned in the past three months. The average ENB stock price target of US$42.79 implies 7.38% upside potential.
