Do Enbridge’s New Projects and Reaffirmed Guidance Reveal a Shift in Strategy for TSX:ENB?

• Earlier this week, Enbridge Inc. announced its Board of Directors declared a quarterly dividend of CA$0.9425 per common share, payable on December 1, 2025, and released third-quarter results which missed analyst expectations for both earnings and revenue.
• Despite these softer earnings, Enbridge reaffirmed its 2025 financial guidance, sanctioned approximately CA$3 billion in new projects, and maintained dividends for both common and preferred shareholders, signaling commitment to long-term growth initiatives and shareholder returns.
• We’ll assess how Enbridge’s reaffirmed guidance and major project expansions influence its investment narrative and growth outlook.

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Enbridge Investment Narrative Recap

Owning Enbridge means believing in the durability of North American pipeline infrastructure and the company’s ability to generate recurring, inflation-resistant cash flows, even as decarbonization and regulatory challenges intensify. The latest dividend affirmation and new project approvals maintain the company’s long-term investment appeal but do not materially shift the key short-term catalyst, securing timely regulatory approvals for major expansions, nor do they reduce the most significant risk, which remains policy and permitting uncertainty in the US and Canada.

Among recent announcements, Enbridge’s sanctioning of approximately CA$3 billion in new projects stands out as most relevant. These expansions, particularly in gas transmission and storage, align with growth trends in North American energy demand and underpin management’s confidence in maintaining guidance and dividend stability, even as regulatory hurdles persist.

Yet, despite dividend consistency and new investments, investors should be aware that regulatory or permitting obstacles could still...

Read the full narrative on Enbridge (it's free!)

Enbridge is projected to have CA$58.9 billion in revenue and CA$7.8 billion in earnings by 2028. This outlook assumes a 3.0% annual decline in revenue and a CA$1.6 billion increase in earnings from the current CA$6.2 billion.

Uncover how Enbridge's forecasts yield a CA$69.26 fair value, a 3% upside to its current price.

Exploring Other Perspectives

Fair value opinions from 7 Simply Wall St Community members range widely, from CA$60 to CA$210.34 per share. While some see significant upside, regulatory unpredictability remains a central variable that could shape Enbridge’s future trajectory, check out the full range of viewpoints for more context.

Explore 7 other fair value estimates on Enbridge - why the stock might be worth 10% less than the current price!

Build Your Own Enbridge Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Enbridge research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Enbridge research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Enbridge's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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