Enbridge Inc.

TSX:ENB Stock Report

Market Cap: CA$162.8b

Enbridge Management

Management criteria checks 3/4

Enbridge's CEO is Greg Ebel, appointed in Jan 2023, has a tenure of 3.33 years. total yearly compensation is CA$24.39M, comprised of 8% salary and 92% bonuses, including company stock and options. directly owns 0.036% of the company’s shares, worth CA$58.92M. The average tenure of the management team and the board of directors is 2.8 years and 4.3 years respectively.

Key information

Greg Ebel

Chief executive officer

CA$24.4m

Total compensation

CEO salary percentage8.05%
CEO tenure3.3yrs
CEO ownership0.04%
Management average tenure2.8yrs
Board average tenure4.3yrs

Recent management updates

Recent updates

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.

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.

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.

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.

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.

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.

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.

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

Feb 16
Industry Analysts Just Made A Meaningful Upgrade To Their Enbridge Inc. (TSE:ENB) Revenue Forecasts

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.

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

Jan 29
Enbridge (TSE:ENB) Is Increasing Its Dividend To CA$0.97

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.

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.

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.

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.

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.

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.

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.

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).

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

Jul 27
We Think Enbridge (TSE:ENB) Is Taking Some Risk With Its Debt

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

Jul 09
Here's What To Make Of Enbridge's (TSE:ENB) Decelerating Rates Of Return

Revenue Beat: Enbridge Inc. Beat Analyst Estimates By 79%

May 13
Revenue Beat: Enbridge Inc. Beat Analyst Estimates By 79%
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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.

CEO Compensation Analysis

How has Greg Ebel's remuneration changed compared to Enbridge's earnings?
DateTotal CompensationSalaryCompany Earnings
Dec 31 2025CA$24mCA$2m

CA$7b

Sep 30 2025n/an/a

CA$6b

Jun 30 2025n/an/a

CA$6b

Mar 31 2025n/an/a

CA$6b

Dec 31 2024CA$24mCA$2m

CA$5b

Sep 30 2024n/an/a

CA$6b

Jun 30 2024n/an/a

CA$6b

Mar 31 2024n/an/a

CA$6b

Dec 31 2023CA$19mCA$2m

CA$6b

Sep 30 2023n/an/a

CA$3b

Jun 30 2023n/an/a

CA$4b

Mar 31 2023n/an/a

CA$2b

Dec 31 2022CA$728kn/a

CA$3b

Sep 30 2022n/an/a

CA$5b

Jun 30 2022n/an/a

CA$5b

Mar 31 2022n/an/a

CA$6b

Dec 31 2021CA$674kn/a

CA$6b

Sep 30 2021n/an/a

CA$6b

Jun 30 2021n/an/a

CA$6b

Mar 31 2021n/an/a

CA$6b

Dec 31 2020CA$701kn/a

CA$3b

Sep 30 2020n/an/a

CA$2b

Jun 30 2020n/an/a

CA$2b

Mar 31 2020n/an/a

CA$2b

Dec 31 2019CA$706kn/a

CA$5b

Compensation vs Market: Greg's total compensation ($USD17.94M) is above average for companies of similar size in the Canadian market ($USD7.51M).

Compensation vs Earnings: Greg's compensation has been consistent with company performance over the past year.

CEO

Greg Ebel (61 yo)

3.3yrs
Tenure
CA$24,388,263
Compensation

Mr. Gregory Lorne Ebel, also known as Greg, had been an Independent Director of Baker Hughes Company (formerly known as Baker Hughes, a GE company), LLC since May 10, 2019 until January 25, 2023. He served...

Leadership Team

NamePositionTenureCompensationOwnership
Gregory Ebel
President3.3yrsCA$24.39m0.036%
CA$ 58.9m
Patrick Murray
Executive VP & CFO2.8yrsCA$5.81m0.0020%
CA$ 3.2m
Reginald Hedgebeth
Executive VP of External Affairs & Chief Legal Officer2.3yrsCA$5.67m0.000010%
CA$ 16.3k
Colin Gruending
Executive VP & President of Liquids Pipelines4.6yrsCA$6.47m0.0081%
CA$ 13.2m
Cynthia Hansen
Advisor13.3yrsCA$7.10m0%
CA$ 0
Maximilian Chan
Senior Vice President of Operationsless than a yearno data0.00091%
CA$ 1.5m
Melissa LaForge
Senior VP & Chief Accounting Officer2.8yrsno data0.00036%
CA$ 585.9k
Joseph Gollapalli
VP & CTOno datano datano data
Scott Arndt
SVP & Chief Information Officerno datano datano data
Laura J. Sayavedra
Senior VP of Safety2.3yrsno data0.0025%
CA$ 4.0m
Marlon Samuel
Vice President of Investor Relations & Insuranceno datano datano data
Lisa Wilson
VP & Chief Compliance Officerno datano datano data
2.8yrs
Average Tenure
56yo
Average Age

Experienced Management: ENB's management team is considered experienced (2.8 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Gregory Ebel
President9.3yrsCA$24.39m0.036%
CA$ 58.9m
Douglas Foshee
Independent Director1.3yrsCA$448.46k0.00031%
CA$ 504.6k
Steven Williams
Independent Chairman of the Board4yrsCA$700.01k0.0015%
CA$ 2.4m
Susan Cunningham
Independent Director7.3yrsCA$478.49k0.00016%
CA$ 260.4k
Mayank Ashar
Independent Director4.8yrsCA$453.60k0.0029%
CA$ 4.8m
Teresa Madden
Independent Director7.3yrsCA$485.83k0.00025%
CA$ 406.9k
Theresa B. Jang
Independent Director2yrsCA$448.60k0.00076%
CA$ 1.2m
S. Rowe
Independent Director4yrsCA$452.71k0.0017%
CA$ 2.8m
Stephen Poloz
Independent Director5.9yrsCA$477.23k0.000080%
CA$ 130.2k
Gaurdie Banister
Independent Director4.5yrsCA$474.85k0.00098%
CA$ 1.6m
Jason Few
Independent Director4yrsCA$470.29kno data
Manjit Minhas
Independent Director2.5yrsCA$448.60k0.000020%
CA$ 32.6k
4.3yrs
Average Tenure
67yo
Average Age

Experienced Board: ENB's board of directors are considered experienced (4.3 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/04 10:41
End of Day Share Price 2026/05/01 00:00
Earnings2025/12/31
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. 7 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