Enbridge
Enbridge Inc. operates as an energy infrastructure company in Canada and the United States. The last earnings update was 47 days ago. More info.
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ENB Share Price and Events
7 Day Returns
1 Year Returns
ENB Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Enbridge (ENB) | -0.9% | -9.3% | -6.6% | 8.7% | -15.8% | -9.6% |
| CA Oil and Gas | -0.8% | -3.6% | -4.7% | -16.1% | -13.5% | -40.1% |
| CA Market | -0.7% | 0.2% | 0.3% | -2.2% | 11.9% | 0.9% |
1 Year Return vs Industry and Market
- ENB outperformed the Oil and Gas industry which returned -16.1% over the past year.
- ENB outperformed the Market in Canada which returned -2.2% over the past year.
Value
Is Enbridge undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Enbridge
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Enbridge.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 10 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.5% |
| Perpetual Growth Rate | 10-Year CA Government Bond Rate | 1.9% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year CA Govt Bond Rate | 1.9% |
| Equity Risk Premium | S&P Global | 6% |
| Oil and Gas Unlevered Beta | Simply Wall St/ S&P Global | 0.92 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 26.5%) (72.19%)) |
1.27 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.27 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.27 * 5.96%) |
9.52% |
Discounted Cash Flow Calculation for TSX:ENB using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Enbridge is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (CAD, Millions) | Source |
Present Value Discounted (@ 9.52%) |
|
|---|---|---|---|
| 2019 | 7,356.25 | Analyst x4 | 6,717.09 |
| 2020 | 9,142.72 | Analyst x5 | 7,622.98 |
| 2021 | 11,042.20 | Analyst x4 | 8,406.78 |
| 2022 | 13,041.50 | Analyst x2 | 9,066.22 |
| 2023 | 13,330.50 | Analyst x2 | 8,461.93 |
| 2024 | 13,613.02 | Est @ 2.12% | 7,890.46 |
| 2025 | 13,894.48 | Est @ 2.07% | 7,353.85 |
| 2026 | 14,176.74 | Est @ 2.03% | 6,851.31 |
| 2027 | 14,461.14 | Est @ 2.01% | 6,381.52 |
| 2028 | 14,748.68 | Est @ 1.99% | 5,942.91 |
| Present value of next 10 years cash flows | CA$74,695.03 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= CA$14,748.68 × (1 + 1.95%) ÷ (9.52% – 1.95%) |
CA$198,664.77 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= CA$198,664.77 ÷ (1 + 9.52%)10 |
CA$80,051.05 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= CA$74,695.03 + CA$80,051.05 |
CA$154,746.09 |
| Equity Value per Share (CAD) |
= Total value / Shares Outstanding
= CA$154,746.09 / 2,023.81 |
CA$76.46 |
| Calculation | Result | |
|---|---|---|
| Value per share (CAD) | From above. | CA$76.46 |
| Current discount | Discount to share price of
CA$46.01
= -1 x (CA$46.01 - CA$76.46) / CA$76.46 |
39.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Enbridge's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Enbridge's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Enbridge's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Enbridge's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in CAD | CA$2.19 |
| TSX:ENB Share Price ** | TSX (2019-06-26) in CAD | CA$46.01 |
| Canada Oil and Gas Industry PE Ratio | Median Figure of 59 Publicly-Listed Oil and Gas Companies | 12.81x |
| Canada Market PE Ratio | Median Figure of 543 Publicly-Listed Companies | 15x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Enbridge.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = TSX:ENB Share Price ÷ EPS (both in CAD) = 46.01 ÷ 2.19 |
20.99x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Enbridge is overvalued based on earnings compared to the CA Oil and Gas industry average.
- Enbridge is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does
Enbridge's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 20.99x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts |
9.5%per year |
| Canada Oil and Gas Industry PEG Ratio | Median Figure of 36 Publicly-Listed Oil and Gas Companies | 0.85x |
| Canada Market PEG Ratio | Median Figure of 248 Publicly-Listed Companies | 1.15x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 20.99x ÷ 9.5% |
2.21x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Enbridge is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Enbridge's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in CAD | CA$30.91 |
| TSX:ENB Share Price * | TSX (2019-06-26) in CAD | CA$46.01 |
| Canada Oil and Gas Industry PB Ratio | Median Figure of 224 Publicly-Listed Oil and Gas Companies | 0.8x |
| Canada Market PB Ratio | Median Figure of 2,426 Publicly-Listed Companies | 1.44x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = TSX:ENB Share Price ÷ Book Value per Share (both in CAD) = 46.01 ÷ 30.91 |
1.49x |
* Primary Listing of Enbridge.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Enbridge is overvalued based on assets compared to the CA Oil and Gas industry average.
Value checks
We assess Enbridge's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check) Enbridge has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
How is Enbridge expected to perform in the next 1 to 3 years based on estimates from 10 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Enbridge's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
- Enbridge's earnings growth is positive but not above the Canada market average.
- Enbridge's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| TSX:ENB Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts | 9.5% |
| TSX:ENB Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts | 5.5% |
| Canada Oil and Gas Industry Earnings Growth Rate | Market Cap Weighted Average | 8.4% |
| Canada Oil and Gas Industry Revenue Growth Rate | Market Cap Weighted Average | 4.5% |
| Canada Market Earnings Growth Rate | Market Cap Weighted Average | 14.8% |
| Canada Market Revenue Growth Rate | Market Cap Weighted Average | 5.9% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 10 Analyst Estimates (S&P Global) | See Below |
| Date (Data in CAD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 57,634 | 1 | ||
| 2022-12-31 | 55,652 | 1 | ||
| 2021-12-31 | 55,037 | 12,188 | 6,115 | 3 |
| 2020-12-31 | 49,508 | 11,665 | 5,434 | 8 |
| 2019-12-31 | 47,275 | 9,690 | 5,358 | 8 |
| Date (Data in CAD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 46,508 | 9,484 | 3,961 |
| 2018-12-31 | 46,378 | 10,502 | 2,515 |
| 2018-09-30 | 47,705 | 9,268 | 1,633 |
| 2018-06-30 | 45,587 | 9,375 | 2,488 |
| 2018-03-31 | 45,958 | 8,076 | 2,336 |
| 2017-12-31 | 44,378 | 6,658 | 2,529 |
| 2017-09-30 | 40,827 | 6,373 | 2,687 |
| 2017-06-30 | 40,088 | 5,727 | 1,819 |
| 2017-03-31 | 36,911 | 5,126 | 1,201 |
| 2016-12-31 | 34,560 | 5,205 | 1,776 |
| 2016-09-30 | 34,136 | 4,925 | 1,789 |
| 2016-06-30 | 33,968 | 4,920 | 1,283 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 10 Analyst Estimates (S&P Global) | See Below |
All data from Enbridge Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CAD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 2.55 | 2.55 | 2.55 | 1.00 |
| 2022-12-31 | 2.45 | 2.45 | 2.45 | 1.00 |
| 2021-12-31 | 2.72 | 3.09 | 2.14 | 3.00 |
| 2020-12-31 | 2.63 | 2.97 | 2.00 | 7.00 |
| 2019-12-31 | 2.56 | 2.75 | 2.30 | 5.00 |
| Date (Data in CAD Millions) | EPS * |
|---|---|
| 2019-03-31 | 2.19 |
| 2018-12-31 | 1.46 |
| 2018-09-30 | 0.97 |
| 2018-06-30 | 1.49 |
| 2018-03-31 | 1.41 |
| 2017-12-31 | 1.66 |
| 2017-09-30 | 2.00 |
| 2017-06-30 | 1.56 |
| 2017-03-31 | 1.22 |
| 2016-12-31 | 1.95 |
| 2016-09-30 | 2.01 |
| 2016-06-30 | 1.47 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Enbridge's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Enbridge has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Enbridge performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Enbridge has delivered over 20% year on year earnings growth in the past 5 years.
- Enbridge's 1-year earnings growth exceeds its 5-year average (69.6% vs 35%)
- Enbridge's earnings growth has exceeded the CA Oil and Gas industry average in the past year (69.6% vs 11.1%).
Earnings and Revenue History
All data from Enbridge Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in CAD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 46,508.00 | 3,961.00 | 6,737.00 | |
| 2018-12-31 | 46,378.00 | 2,515.00 | 6,662.00 | |
| 2018-09-30 | 47,705.00 | 1,633.00 | 6,422.00 | |
| 2018-06-30 | 45,587.00 | 2,488.00 | 6,342.00 | |
| 2018-03-31 | 45,958.00 | 2,336.00 | 6,240.00 | |
| 2017-12-31 | 44,378.00 | 2,529.00 | 6,194.00 | |
| 2017-09-30 | 40,827.00 | 2,687.00 | 5,910.00 | |
| 2017-06-30 | 40,088.00 | 1,819.00 | 5,403.00 | |
| 2017-03-31 | 36,911.00 | 1,201.00 | 4,783.00 | |
| 2016-12-31 | 34,560.00 | 1,776.00 | 4,282.00 | |
| 2016-09-30 | 34,136.00 | 1,789.00 | 4,295.00 | |
| 2016-06-30 | 33,968.00 | 1,283.00 | 4,291.00 | |
| 2016-03-31 | 34,660.00 | 1,559.00 | 4,199.00 | |
| 2015-12-31 | 33,794.00 | -37.00 | 4,131.00 | |
| 2015-09-30 | 33,677.00 | -327.00 | 3,933.00 | |
| 2015-06-30 | 33,654.00 | 202.00 | 3,641.00 | |
| 2015-03-31 | 35,049.00 | 381.00 | 3,527.00 | |
| 2014-12-31 | 37,641.00 | 1,108.00 | 3,281.00 | |
| 2014-09-30 | 37,137.00 | 749.00 | 3,152.00 | |
| 2014-06-30 | 37,838.00 | 1,250.00 | 3,113.00 | |
| 2014-03-31 | 35,542.00 | 536.00 | 3,095.00 | |
| 2013-12-31 | 32,918.00 | 442.00 | 3,014.00 | |
| 2013-09-30 | 31,632.00 | 938.00 | 2,928.00 | |
| 2013-06-30 | 28,310.00 | 704.00 | 2,886.00 | |
| 2013-03-31 | 25,932.00 | 670.00 | 2,771.00 | |
| 2012-12-31 | 24,660.00 | 681.00 | 2,739.00 | |
| 2012-09-30 | 24,962.00 | 877.00 | 2,762.00 | |
| 2012-06-30 | 25,563.00 | 685.00 | 2,608.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Enbridge has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Enbridge used its assets less efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
- Enbridge's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Enbridge's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Enbridge has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Enbridge's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Enbridge's finances.
The net worth of a company is the difference between its assets and liabilities.
- Enbridge's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Enbridge's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Enbridge Company Filings, last reported 2 months ago.
| Date (Data in CAD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 73,919.00 | 66,395.00 | 709.00 |
| 2018-12-31 | 73,435.00 | 65,152.00 | 540.00 |
| 2018-09-30 | 72,219.00 | 63,721.00 | 692.00 |
| 2018-06-30 | 72,665.00 | 66,028.00 | 494.00 |
| 2018-03-31 | 71,329.00 | 66,675.00 | 637.00 |
| 2017-12-31 | 69,799.00 | 65,549.00 | 488.00 |
| 2017-09-30 | 68,714.00 | 66,441.00 | 750.00 |
| 2017-06-30 | 72,642.00 | 67,581.00 | 2,033.00 |
| 2017-03-31 | 72,758.00 | 67,820.00 | 1,859.00 |
| 2016-12-31 | 25,355.00 | 42,001.00 | 1,494.00 |
| 2016-09-30 | 23,490.00 | 43,245.00 | 1,037.00 |
| 2016-06-30 | 24,129.00 | 42,622.00 | 1,258.00 |
| 2016-03-31 | 23,928.00 | 41,943.00 | 1,737.00 |
| 2015-12-31 | 22,339.00 | 43,534.00 | 1,017.00 |
| 2015-09-30 | 21,204.00 | 42,254.00 | 1,024.00 |
| 2015-06-30 | 21,533.00 | 39,617.00 | 1,211.00 |
| 2015-03-31 | 21,425.00 | 39,195.00 | 1,194.00 |
| 2014-12-31 | 21,050.00 | 36,873.00 | 1,269.00 |
| 2014-09-30 | 20,156.00 | 32,890.00 | 1,106.00 |
| 2014-06-30 | 19,999.00 | 30,997.00 | 1,291.00 |
| 2014-03-31 | 19,198.00 | 29,294.00 | 957.00 |
| 2013-12-31 | 18,563.00 | 26,352.00 | 939.00 |
| 2013-09-30 | 17,830.00 | 23,672.00 | 552.00 |
| 2013-06-30 | 17,520.00 | 22,708.00 | 1,156.00 |
| 2013-03-31 | 15,468.00 | 22,992.00 | 1,375.00 |
| 2012-12-31 | 14,504.00 | 22,895.00 | 1,792.00 |
| 2012-09-30 | 14,130.00 | 21,550.00 | 1,734.00 |
| 2012-06-30 | 13,181.00 | 20,812.00 | 674.00 |
- Enbridge's level of debt (89.8%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (152.6% vs 89.8% today).
- Debt is not well covered by operating cash flow (14.3%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.8x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Enbridge's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Enbridge has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Enbridge's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
CA$2,000 of
Enbridge
shares you are expected to receive
CA$128
in your first year as a dividend.
Dividend Amount
- Enbridge's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.13%).
- Enbridge's dividend is above the markets top 25% of dividend payers in Canada (5.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 10 Analyst Estimates (S&P Global) | See Below |
| Canada Oil and Gas Industry Average Dividend Yield | Market Cap Weighted Average of 37 Stocks | 4.7% |
| Canada Market Average Dividend Yield | Market Cap Weighted Average of 336 Stocks | 3.5% |
| Canada Minimum Threshold Dividend Yield | 10th Percentile | 1.1% |
| Canada Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Canada Top 25% Dividend Yield | 75th Percentile | 5.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in CA$) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 3.82 | 2.00 |
| 2022-12-31 | 3.59 | 3.00 |
| 2021-12-31 | 3.42 | 11.00 |
| 2020-12-31 | 3.22 | 18.00 |
| 2019-12-31 | 2.95 | 18.00 |
| Date (Data in CA$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-23 | 2.952 | 6.080 |
| 2018-12-11 | 2.952 | 6.257 |
| 2018-11-02 | 2.684 | 6.218 |
| 2018-08-03 | 2.684 | 6.105 |
| 2018-04-24 | 2.684 | 6.299 |
| 2017-11-29 | 2.684 | 6.071 |
| 2017-11-02 | 2.440 | 5.282 |
| 2017-05-04 | 2.440 | 4.744 |
| 2017-01-05 | 2.332 | 4.158 |
| 2016-11-03 | 2.120 | 3.755 |
| 2016-07-29 | 2.120 | 3.790 |
| 2016-04-22 | 2.120 | 3.995 |
| 2015-12-03 | 2.120 | 4.536 |
| 2015-11-05 | 1.860 | 3.807 |
| 2015-07-31 | 1.860 | 3.451 |
| 2015-05-06 | 1.860 | 3.175 |
| 2014-12-05 | 1.860 | 3.100 |
| 2014-10-22 | 1.400 | 2.655 |
| 2014-07-30 | 1.400 | 2.612 |
| 2014-04-23 | 1.400 | 2.696 |
| 2013-12-04 | 1.400 | 2.944 |
| 2013-10-30 | 1.260 | 2.814 |
| 2013-08-01 | 1.260 | 2.910 |
| 2013-04-23 | 1.260 | 2.747 |
| 2012-12-06 | 1.260 | 2.821 |
| 2012-10-24 | 1.130 | 2.871 |
| 2012-08-02 | 1.130 | 2.891 |
| 2012-04-26 | 1.130 | 2.799 |
| 2011-12-07 | 1.130 | 2.976 |
| 2011-10-28 | 0.980 | 2.782 |
| 2011-08-05 | 0.980 | 3.026 |
| 2011-04-28 | 0.980 | 3.161 |
| 2010-12-01 | 0.980 | 3.401 |
| 2010-11-03 | 0.850 | 3.018 |
| 2010-07-28 | 0.850 | 3.205 |
| 2010-05-05 | 0.850 | 3.450 |
| 2009-12-02 | 0.850 | 3.549 |
| 2009-11-04 | 0.740 | 3.364 |
| 2009-05-06 | 0.740 | 3.685 |
| 2008-12-03 | 0.740 | 3.838 |
| 2008-11-05 | 0.660 | 3.463 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Enbridge's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are not well covered by earnings (0.8x coverage).
- Dividends after 3 years are not well covered by earnings (0.9x coverage).
Income/ dividend checks
We assess Enbridge's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Enbridge afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Enbridge has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | CA$9,530,194 |
| AGE | 58 |
| TENURE AS CEO | 6.7 years |
CEO Bio
Mr. Al Monaco has been Chief Executive Officer of Enbridge Inc. since October 1, 2012 and its Director since February 2012 and was its President since February 2012 until June 1, 2019. Mr. Monaco joined Enbridge Inc. (“Enbridge”) in 1995 and has held increasingly senior positions. He served as a Director of Enbridge Gas Distribution Inc. since October 16, 2012. Prior to being appointed President of Enbridge, Mr. Monaco served as President of Gas Pipelines, Green Energy & International with responsibility for the growth and operations of Enbridge Inc. gas pipelines, included the gas gathering and processing operations in the United States its gulf coast offshore assets and investments in Alliance, Vector and Aux Sable, as well as International business development and investment activities and Green Energy. Mr. Monaco holds an MBA (Master of Business Administration) from the University of Calgary and has a Chartered Professional Accountant designation.
CEO Compensation
- Al's compensation has been consistent with company performance over the past year, both up more than 20%.
- Al's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure
Average tenure and age of the Enbridge management team in years:
- The tenure for the Enbridge management team is about average.
Management Team
Al Monaco
CEO & Director
CA$10M
58
6.7 yrs
Robert Rooney
Executive VP & Chief Legal Officer
CA$2M
61
2.3 yrs
John Whelen
Executive VP & Chief Development Officer
CA$3M
58
D. Jarvis
Executive VP & President of Liquids Pipelines
CA$3M
54
5.7 yrs
Bill Yardley
Executive VP and President of Gas Transmission & Midstream
CA$3M
53
2.3 yrs
Colin Gruending
Executive VP & CFO
Bhushan Ivaturi
Senior VP & Chief Information Officer
Matthew Akman
Senior Vice President of Strategy & Power
2.3 yrs
Jonathan Gould
Director
Tyler Robinson
Vice President
Board of Directors Tenure
Average tenure and age of the Enbridge board of directors in years:
- The tenure for the Enbridge board of directors is about average.
Board of Directors
Greg Ebel
Non-Executive Chairman
CA$520K
54
2.3 yrs
Al Monaco
CEO & Director
CA$10M
58
7.3 yrs
Herb England
Independent Director
CA$461K
71
12.4 yrs
Cathy Williams
Independent Director
CA$259K
67
11.6 yrs
Charlie Fischer
Independent Director
CA$259K
68
9.9 yrs
V. Kempston Darkes
Independent Director
CA$260K
69
8.6 yrs
Pam Carter
Independent Director
CA$249K
68
2.3 yrs
Dan Tutcher
Director
CA$257K
69
13.1 yrs
Marcel Coutu
Independent Director
CA$244K
64
4.9 yrs
Susan Cunningham
Independent Director
62
0.3 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Enbridge individual insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (CA$) | Value (CA$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 07. Jun 19 | Buy | Al Monaco | Individual | 05. Jun 19 | 05. Jun 19 | 7,848 | CA$49.81 | CA$390,909 | ||
| 28. Mar 19 | Sell | William Yardley | Individual | 26. Mar 19 | 26. Mar 19 | -14,900 | CA$49.49 | CA$-737,472 | ||
| 19. Mar 19 | Buy | Cynthia Hansen | Individual | 03. Dec 18 | 03. Dec 18 | 95 | CA$43.92 | CA$4,172 | ||
| 12. Mar 19 | Buy | Cynthia Hansen | Individual | 03. Dec 18 | 01. Mar 19 | 1,790 | CA$65.16 | CA$110,450 | ||
| 07. Mar 19 | Buy | Al Monaco | Individual | 05. Mar 19 | 05. Mar 19 | 7,806 | CA$49.33 | CA$385,070 | ||
| 25. Feb 19 | Sell | Allen Capps | Individual | 22. Feb 19 | 22. Feb 19 | -6,514 | CA$48.80 | CA$-317,872 | ||
| 07. Dec 18 | Buy | Robert Rooney | Individual | 04. Dec 18 | 04. Dec 18 | 261 | CA$43.93 | CA$11,465 | ||
| 07. Dec 18 | Buy | Al Monaco | Individual | 04. Dec 18 | 04. Dec 18 | 7,569 | CA$43.82 | CA$331,674 | ||
Management checks
We assess Enbridge's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Enbridge has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
A Note On Enbridge Inc.'s (TSE:ENB) ROE and Debt To Equity
The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Enbridge: 6.6% = CA$4.0b ÷ CA$74b (Based on the trailing twelve months to March 2019.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Does Enbridge Have A Good Return On Equity? … Enbridge's Debt And Its 6.6% ROE Although Enbridge does use debt, its debt to equity ratio of 0.90 is still low.
Simply Wall St - – Full articleIs Enbridge Inc.'s (TSE:ENB) CEO Pay Fair?
First, this article will compare CEO compensation with compensation at other large companies. … See our latest analysis for Enbridge How Does Al Monaco's Compensation Compare With Similar Sized Companies? … When we examined a group of companies with market caps over US$8.0b, we found that their median CEO total compensation was US$6.6m.
Simply Wall St - – Full articleIs Enbridge Inc.'s (TSE:ENB) Balance Sheet A Threat To Its Future?
On top of this, ENB has produced cash from operations of CA$9.5b over the same time period, leading to an operating cash to total debt ratio of 14%, indicating that ENB’s current level of operating cash is not high enough to cover debt. … With current liabilities at CA$13b, it appears that the company may not have an easy time meeting these commitments with a current assets level of CA$8.4b, leading to a current ratio of 0.64x. … Next Steps: With a high level of debt on its balance sheet, ENB could still be in a financially strong position if its cash flow also stacked up.
Simply Wall St - – Full articleIs Enbridge Inc. (TSE:ENB) A Great Dividend Stock?
On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. … In this case, Enbridge likely looks attractive to investors, given its 6.0% dividend yield and a payment history of over ten years. … When buying stocks for their dividends, you should always run through the checks below, to see if the dividend looks sustainable.
Simply Wall St - – Full articleExamining Enbridge Inc.’s (TSE:ENB) Weak Return On Capital Employed
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.
Simply Wall St - – Full articleShould You Be Worried About Insider Transactions At Enbridge Inc. (TSE:ENB)?
So shareholders might well want to know whether insiders have been buying or selling shares in Enbridge Inc. … It's quite normal to see company insiders, such as board members, trading in company stock, from time to time. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.
Simply Wall St - – Full articleWhy Enbridge Inc.'s (TSE:ENB) High P/E Ratio Isn't Necessarily A Bad Thing
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … Enbridge has a price to earnings ratio of 33.18, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleDoes Enbridge Inc.'s (TSE:ENB) Stock Price Account For Its Growth?
(TSE:ENB) is considered a high-growth stock, but its last closing price of CA$48.72 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s look into this by assessing ENB's expected growth over the next few years. … Enbridge's extremely high growth potential in the near future is attracting investors
Simply Wall St - – Full articleCan You Imagine How Enbridge's Shareholders Feel About The 22% Share Price Increase?
(TSE:ENB) share price is up 22% in the last year, clearly besting than the market return of around 1.0% (not including dividends). … Indeed, when EPS is declining but the share price is up, it often means the market is considering other factors. … For starters, we suspect the share price has been buoyed by the dividend, which was increased during the year.
Simply Wall St - – Full articleIs Enbridge Inc. (TSE:ENB) Excessively Paying Its CEO?
This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. … How Does Al Monaco's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleCompany Info
Description
Enbridge Inc. operates as an energy infrastructure company in Canada and the United States. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals. The Gas Transmission and Midstream segment owns interests in natural gas pipelines, and gathering and processing facilities. The Gas Distribution segment is involved in natural gas utility operations serving residential, commercial, and industrial customers in Ontario, as well as in Quebec and New Brunswick. The Green Power and Transmission segment operates renewable energy assets, such as wind, solar, geothermal, and waste heat recovery facilities; and transmission facilities in the provinces of Alberta, Ontario, and Quebec, Canada; and in Colorado, Texas, Indiana, and West Virginia, the United States. The Energy Services segment provides energy marketing services to refiners, producers, and other customers; transportation, storage, supply management, and product exchange services; crude oil, natural gas, NGL, and power marketing services; and physical commodity marketing and logistical services. The company was formerly known as IPL Energy Inc. and changed its name to Enbridge Inc. in October 1998. Enbridge Inc. was founded in 1949 and is headquartered in Calgary, Canada.
Details
| Name: | Enbridge Inc. |
| ENB | |
| Exchange: | TSX |
| Founded: | 1949 |
| CA$93,115,494,741 | |
| 2,023,809,927 | |
| Website: | http://www.enbridge.com |
| Address: |
Enbridge Inc. 200, Fifth Avenue Place, 425 - 1st Street SW, Calgary, Alberta, T2P 3L8, Canada |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| TSX | ENB | Common Shares | The Toronto Stock Exchange | CA | CAD | 14. Dec 1972 | |
| NYSE | ENB | Common Shares | New York Stock Exchange | US | USD | 14. Dec 1972 | |
| DB | EN3 | Common Shares | Deutsche Boerse AG | DE | EUR | 14. Dec 1972 | |
| LSE | 0KTI | Common Shares | London Stock Exchange | GB | CAD | 14. Dec 1972 | |
| TSX | ENB.PRC | CUM RED PFD C | The Toronto Stock Exchange | CA | CAD | 02. Jun 2017 | |
| TSX | ENB.PRU | CUM RED PRF J | The Toronto Stock Exchange | CA | USD | 20. Apr 2012 | |
| TSX | ENB.PFU | CUM RED PF S L | The Toronto Stock Exchange | CA | USD | 24. May 2012 | |
| TSX | ENB.PRP | PREF SER P 4% | The Toronto Stock Exchange | CA | CAD | 13. Sep 2012 | |
| TSX | ENB.PRV | CUM PREF SHS SR1 | The Toronto Stock Exchange | CA | USD | 15. May 2013 | |
| TSX | ENB.PRY | PREF SHS SER 3 | The Toronto Stock Exchange | CA | CAD | 06. Jun 2013 | |
| TSX | ENB.PFV | RED PRF SHS SER5 | The Toronto Stock Exchange | CA | CAD | 01. Oct 2013 | |
| TSX | ENB.PRJ | RED PREF SHS 7 | The Toronto Stock Exchange | CA | CAD | 12. Dec 2013 | |
| TSX | ENB.PFA | 4.4% PFD SER 9 | The Toronto Stock Exchange | CA | CAD | 13. Mar 2014 | |
| TSX | ENB.PFC | 4.4% PFD SR 11 | The Toronto Stock Exchange | CA | CAD | 22. May 2014 | |
| TSX | ENB.PFG | PREF SER 15 | The Toronto Stock Exchange | CA | CAD | 24. Sep 2014 | |
| TSX | ENB.PFI | CUM RED PREF 17 | The Toronto Stock Exchange | CA | CAD | 23. Nov 2016 | |
| OTCPK | EBBN.F | CUM RED PF S L | Pink Sheets LLC | US | USD | 24. May 2012 | |
| OTCPK | ENBB.F | CUM RED PRF J | Pink Sheets LLC | US | USD | 20. Apr 2012 |
Number of employees
Current staff
Industry
| Oil and Gas Storage and Transportation | |
| Energy |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/26 23:38 |
| End of day share price update: | 2019/06/26 00:00 |
| Last estimates confirmation: | 2019/06/17 |
| Last earnings filing: | 2019/05/10 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
