Enbridge Inc.

TSX:ENB Stock Report

Market Cap: CA$170.8b

Enbridge Future Growth

Future criteria checks 1/6

Enbridge's revenue is forecast to decline at 1.2% per annum while its annual earnings are expected to grow at 8.4% per year. EPS is expected to grow by 7.3% per annum. Return on equity is forecast to be 14.1% in 3 years.

Key information

8.4%

Earnings growth rate

7.31%

EPS growth rate

Oil and Gas earnings growth10.2%
Revenue growth rate-1.2%
Future return on equity14.14%
Analyst coverage

Good

Last updated19 May 2026

Recent future growth updates

Recent updates

Narrative Update • Apr 29

ENB: Future Returns Will Reflect Rich Pricing And Regulated Utility Expansion

Analysts have slightly increased their fair value estimate for Enbridge, reflecting a somewhat higher CA$ price target supported by expectations for stronger revenue growth, a modestly lower future P/E and a stable but fractionally softer profit margin profile. Analyst Commentary Recent research on Enbridge has been active, with several price target revisions and a mix of more optimistic and more cautious views.
Narrative Update • Apr 15

ENB: Future Returns Will Hinge On Rich Pricing And Utility Execution

The updated analyst price target for Enbridge reflects a modest fair value shift to CA$75.99, with recent CA$1 to CA$5 target increases from firms such as Argus, Citi, BMO Capital, RBC Capital, CIBC and Scotiabank, partly balanced by valuation driven downgrades from TD Securities and Jefferies, as analysts factor in the company’s diversified pipelines and its growing utility exposure. Analyst Commentary Recent research on Enbridge shows a mix of optimism and caution, with several firms lifting price targets while others are more restrained given the share price move and valuation.
Narrative Update • Apr 01

ENB: Future Returns Will Depend On Utility Execution And Rich Market Pricing

Enbridge's fair value estimate nudged higher, supporting a modest lift in the implied CA$ price target. Analysts point to recent Street research that raised targets into the CA$72 to CA$77 range, citing the company's diversified pipeline and utility assets, minimal direct commodity exposure, and updated post earnings estimates.
Narrative Update • Mar 18

ENB: Future Returns Will Rely On Utility Execution And Rich Market Pricing

Analysts have nudged the fair value estimate for Enbridge higher, with the implied price target moving roughly CA$1.48 to CA$75.29. This change is supported by a slightly lower discount rate, steady revenue growth and margin assumptions, and a modestly higher future P/E multiple after a series of recent CA$72 to CA$77 Street price target revisions.
New Narrative • Mar 15

Enbridge Inc. (ENB): The Midstream Infrastructure Giant and the "AI Bridge" Catalyst

Enbridge Inc. (ENB) has redefined its role as a critical "all-of-the-above" energy provider, closing the March 13, 2026, session at $74.28 CAD.
Narrative Update • Mar 04

ENB: Future Returns Will Depend On Gas Utility Delivery And Premium Valuation Risk

Analysts have lifted their Enbridge fair value estimate to CA$73.81 from CA$71.98, citing higher price targets across the Street and updated views on revenue growth, margins and future P/E assumptions. Analyst Commentary Recent Street research on Enbridge points to a mix of optimism on the company’s fundamentals and caution around where the shares are currently trading, which feeds directly into the updated fair value estimate.
Narrative Update • Feb 17

ENB: Future Returns Will Rely On Gas Utility Execution And Dividend Progress

Analysts have nudged their fair value estimates for Enbridge higher. Our updated framework aligns to a CA$1.10 increase in modeled fair value to CA$71.98, as several firms raised price targets into the CA$72 to CA$77 range while citing improved visibility on long term growth, recent deal activity, and stronger valuation support, despite some downgrades following the stock's recent rally.
Analysis Article • Feb 16

Industry Analysts Just Made A Meaningful Upgrade To Their Enbridge Inc. (TSE:ENB) Revenue Forecasts

Enbridge Inc. ( TSE:ENB ) shareholders will have a reason to smile today, with the analysts making substantial upgrades...
Narrative Update • Feb 03

ENB: Future Returns Will Depend On Gas Utility Execution And Dividend Growth

Analysts have trimmed their fair value estimate for Enbridge by about $0.24, as a slightly higher discount rate and softer revenue outlook are being weighed against a small improvement in expected profit margins and a steady future P/E. Recent price target changes reflect mixed views across the Street.
Analysis Article • Jan 29

Enbridge (TSE:ENB) Is Increasing Its Dividend To CA$0.97

The board of Enbridge Inc. ( TSE:ENB ) has announced that it will be paying its dividend of CA$0.97 on the 1st of...
Narrative Update • Jan 20

ENB: Future Returns Will Hinge On Gas Utility Execution And Dividend Stability

Analysts have nudged their price targets on Enbridge slightly higher, with recent moves such as BMO to C$67, National Bank to C$66 and Scotiabank to C$70. They cite renewed interest in the company’s natural gas and utility assets as key support for the revised outlook.
Narrative Update • Jan 06

ENB: Future Returns Will Rely On Dividend Durability And Execution Discipline

Analysts have inched their price targets on Enbridge higher, with moves such as C$65 to C$66, C$66 to C$67 and C$69 to C$70. These changes reflect updated views on fair value, discount rate, expected revenue contraction and profit margins, while generally maintaining more neutral Sector Perform and Market Perform stances.
Narrative Update • Dec 17

ENB: Future Returns Will Depend On U.S. Investment Shift And Dividend Durability

Enbridge's fair value estimate has nudged higher to approximately C$71.07 from about C$70.45, as analysts gradually lift price targets across the midstream peer group while factoring in slightly softer revenue growth, broadly stable margins, and a modestly higher future P/E multiple. Analyst Commentary Recent Street research on Enbridge reflects a generally constructive but still balanced stance, with incremental price target increases clustered in the mid C$60s to around C$70 and rating language that largely reinforces a hold or market perform view.
Narrative Update • Dec 03

ENB: Future Returns Will Rely On U.S. Projects And Dividend Stability

Analysts modestly raised their consolidated price target on Enbridge by C$1 to C$70, citing slightly improved long term revenue growth and profit margin assumptions, despite a largely unchanged risk profile. Analyst Commentary Recent research updates on Enbridge reflect a generally constructive but measured stance, with most price target revisions nudging higher while ratings largely remain neutral or sector perform.
Narrative Update • Nov 19

ENB: Financial Outlook Will Remain Balanced Amid Shifting Investment Priorities

Enbridge's analyst price target has been revised higher, rising by nearly C$1 to reflect improved estimates for profit margins and a modestly lower discount rate. Recent analyst commentary highlights gradual optimism for the company's financial outlook.
Narrative Update • Nov 03

ENB: U.S. Investments And Integration Progress Will Shape Near-Term Stability

Enbridge's analyst price target has increased modestly to C$69 from C$65. Analysts highlight recent earnings growth, as well as positive effects from acquisitions and rate settlements, as supporting factors.
Narrative Update • Oct 20

Strong North American Energy Demand Will Fuel Infrastructure Resilience

Analysts have increased their price target for Enbridge from C$68.40 to C$69.17, citing stable sector fundamentals and expectations for steady earnings, even though revenue growth is expected to be modestly slower. Analyst Commentary Recent Street research has highlighted a range of perspectives on Enbridge’s outlook, reflecting both optimism for the company’s growth potential and some areas of near-term caution.
Narrative Update • Sep 12

Strong North American Energy Demand Will Fuel Infrastructure Resilience

With both the discount rate and future P/E multiple remaining effectively unchanged, analysts made only a marginal upward revision to Enbridge’s fair value, increasing the consensus price target from CA$68.12 to CA$68.40. What's in the News Wells Fargo raised its Enbridge price target to C$62 from C$60 following a Q2 earnings beat, but maintained an Equal Weight (neutral) rating due to valuation (Periodicals).
Analysis Article • Jul 27

We Think Enbridge (TSE:ENB) Is Taking Some Risk With Its Debt

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
Analysis Article • Jul 09

Here's What To Make Of Enbridge's (TSE:ENB) Decelerating Rates Of Return

What are the early trends we should look for to identify a stock that could multiply in value over the long term? One...
User avatar
New Narrative • Nov 07

Pipelines And Renewables Propel Earnings Amidst Regulatory Challenges

Strategic acquisitions and projects in utilities, renewables, and gas lines are expected to drive stable long-term revenue and earnings growth.

Earnings and Revenue Growth Forecasts

TSX:ENB - Analysts future estimates and past financials data (CAD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202868,8638,3328,91115,6167
12/31/202767,2587,4915,99914,8058
12/31/202667,4916,5803,23213,1818
3/31/202669,0496,4561,66211,559N/A
12/31/202565,1947,0443,10512,270N/A
9/30/202564,2345,5854,05412,821N/A
6/30/202564,4776,2244,87512,926N/A
3/31/202560,9375,8955,01612,502N/A
12/31/202453,4735,0535,67012,600N/A
9/30/202448,5546,2867,00112,750N/A
6/30/202443,5165,5257,55612,861N/A
3/31/202442,6125,5258,57813,486N/A
12/31/202343,6495,8399,32514,201N/A
9/30/202345,7753,0469,06714,002N/A
6/30/202347,5043,7938,13713,062N/A
3/31/202350,2872,3957,24212,157N/A
12/31/202253,3092,5896,40911,230N/A
9/30/202252,4055,4964,1519,507N/A
6/30/202252,2984,8993,3339,676N/A
3/31/202250,0315,8432,5619,631N/A
12/31/202147,0715,8161,1639,256N/A
9/30/202144,5595,7511,8729,620N/A
6/30/202142,2036,0592,6029,609N/A
3/31/202139,2116,3123,0089,536N/A
12/31/202039,0872,9834,1619,781N/A
9/30/202041,4311,9543,9489,520N/A
6/30/202043,9191,9134,6909,953N/A
3/31/202049,2262,0024,76110,031N/A
12/31/201950,0695,322N/A9,398N/A
9/30/201949,2795,665N/A9,908N/A
6/30/201949,0264,626N/A8,634N/A
3/31/201946,5083,961N/A9,484N/A
12/31/201846,3782,515N/A10,502N/A
9/30/201847,7051,633N/A9,342N/A
6/30/201845,5872,488N/A9,449N/A
3/31/201845,9582,336N/A8,076N/A
12/31/201744,3782,529N/A6,658N/A
9/30/201740,8272,687N/A6,373N/A
6/30/201740,0881,819N/A5,727N/A
3/31/201736,9111,201N/A5,126N/A
12/31/201634,5601,776N/A5,205N/A
9/30/201634,1361,789N/A4,925N/A
6/30/201633,9681,283N/A4,920N/A
3/31/201634,6601,559N/A4,911N/A
12/31/201533,794-37N/A4,571N/A
9/30/201533,677-327N/A4,475N/A
6/30/201533,654202N/A4,304N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ENB's forecast earnings growth (8.4% per year) is above the savings rate (3%).

Earnings vs Market: ENB's earnings (8.4% per year) are forecast to grow slower than the Canadian market (10.7% per year).

High Growth Earnings: ENB's earnings are forecast to grow, but not significantly.

Revenue vs Market: ENB's revenue is expected to decline over the next 3 years (-1.2% per year).

High Growth Revenue: ENB's revenue is forecast to decline over the next 3 years (-1.2% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ENB's Return on Equity is forecast to be low in 3 years time (14.1%).

Discover growth companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/20 03:20
End of Day Share Price 2026/05/20 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Enbridge Inc. is covered by 47 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harshit GuptaAccountability Research Corporation
John EadeArgus Research Company
null nullArgus Research Company