Enbridge Inc.

NYSE:ENB Stock Report

Market Cap: US$124.3b

Enbridge Past Earnings Performance

Past criteria checks 4/6

Enbridge has been growing earnings at an average annual rate of 3.3%, while the Oil and Gas industry saw earnings growing at 8.9% annually. Revenues have been growing at an average rate of 8% per year. Enbridge's return on equity is 10.3%, and it has net margins of 9.3%.

Key information

3.25%

Earnings growth rate

1.13%

EPS growth rate

Oil and Gas Industry Growth33.67%
Revenue growth rate7.99%
Return on equity10.33%
Net Margin9.35%
Last Earnings Update31 Mar 2026

Recent past performance updates

Recent updates

Seeking Alpha • May 12

Enbridge FQ1 Earnings: An Equity Bond For Uncertain Times

Summary Enbridge Inc. delivers strong FQ1 results, reaffirming its resilience and predictable cash flows amid heightened geopolitical volatility. ENB's diversified asset base and deep customer relationships underpin its equity-bond characteristics, supported by a 31-year record of uninterrupted, growing dividends. Updates from FQ1 earnings report support ENB as an equity bond with a current yield of around 5.3% and expected coupon growth rates of 5.4%. Combined with its highly predictable cash flow, I see favorable odds of an annual return potential in the double digits for long-term shareholders. Read the full article on Seeking Alpha
Seeking Alpha • Apr 22

Enbridge: An Equity Bond Amid Market Turbulence

Summary Many investors probably want a hiding place with the ongoing turbulence in both the stock and bond markets. Enbridge Inc. stock is an appealing idea as an equity bond due to several reasons. Its remarkable history of consistent dividend payments – similar to the coupons from bonds – demonstrates the durability of its moat. The ENB yield is almost 6%, with an average 7% annual growth projected in the years ahead. Read the full article on Seeking Alpha
Seeking Alpha • Apr 11

Enbridge: Tune Out The Noise And Buy High Yield

Summary Enbridge offers a 6.3% dividend yield, supported by 95% of cash flows from regulated or long-term contracts, ensuring stability across economic cycles. Despite near-term concerns like tariffs, ENB’s diversified asset base and strong U.S. exposure position it well for long-term growth. ENB's strategic acquisitions and organic growth have delivered predictable cash flows, with management guiding for continued DCF/share growth. At the current price and a price-to-cash flow of 10.4, ENB presents an attractive opportunity for income and total return investors. Read the full article on Seeking Alpha
Seeking Alpha • Mar 29

Growth Prospects And Valuation Justify Attractive Upside For Enbridge

Summary Enbridge, a midstream/pipeline company, has shown consistent growth since 2018, with a 91.9% stock increase, though slightly underperforming the S&P 500. Major investments in 2024, including a $19 billion acquisition and $5 billion in growth projects, position Enbridge for significant future growth. Enbridge has a $26 billion secured capital program and potential $50 billion in growth opportunities in North America, particularly in the natural gas space. Despite higher leverage, Enbridge's strong cash flow and attractive valuation justify a 'buy' rating, with expected growth in distributable cash flow and EBITDA for 2025. Read the full article on Seeking Alpha
Seeking Alpha • Mar 22

Enbridge: I Prefer A Mix Of 7% Preferred Dividends And Common Shares

Summary Enbridge's preferred shares are highly attractive due to their strong coverage, requiring only 3% of pre-dividend DCF to cover preferred dividends. The Series 3 preferred shares offer a current yield of approximately 7.02%, with the dividend rate reset every five years based on the Canada bond yield. Enbridge's common shares also provide a robust dividend yield (~6%) and potential capital gains, making a mix of common and preferred shares a sensible investment strategy. The preferred dividends are exceptionally well covered, ensuring a low payout ratio and stability, even with potential future interest rate changes. Read the full article on Seeking Alpha
Seeking Alpha • Mar 05

Expect A 10% Annual Return On This Enbridge Preferred Stock

Summary Enbridge stockholders should consider that this Enbridge preferred stock is very likely to provide a better total return than Enbridge common stock over the next 2.5 years with less risk. This Enbridge preferred stock is my favorite reset-rate preferred stock in the market and probably the best-preferred stock overall in the market. Its current yield is very hefty relative to other “qualified dividend” paying preferred stocks with the same BBB- investment grade credit rating. But more importantly, its super strong reset rate will likely drive its price from $22.62 to nearly $25.00 over the next 2.5 years providing nearly a 10.50% annual return. Read the full article on Seeking Alpha
Seeking Alpha • Feb 15

Enbridge: Why I Prefer The Preferreds Again, Downgrading Common

Summary Enbridge is a steady but slow grower with 3% dividend growth expected over the next couple of years, possibly increasing to 5%. Enbridge common shares are downgraded to Hold due to recent price increase, making preferred shares more attractive for income over the next six years. Preferred shares Series L, Series 1, and Series 5 are rated Buy, with Series L becoming more attractive due to its nearest reset date. A "higher for longer" interest rate scenario increases the attractiveness of resettable preferreds as a hedge against inflation and higher rates. Read the full article on Seeking Alpha
Seeking Alpha • Feb 08

Enbridge: Well-Rounded To Maintain Stellar Dividend Yield

Summary Enbridge (ENB) is a Strong Buy due to favorable market conditions, robust growth projects, and a solid 6% forward dividend yield. The "drill, baby, drill" policy and increasing energy demand, especially from data centers, position Enbridge to capitalize on market trends. Enbridge's disciplined capital allocation and $27 billion growth backlog ensure stable financial outcomes and future EBITDA and free cash flow growth. Read the full article on Seeking Alpha
Seeking Alpha • Jan 30

Enbridge: Time To Take Some Profit

Summary We have been bullish on ENB for the past 1~2 years. The factors underpinning our bullish thinking included the power demand from AI applications and its attractive valuation. Now, we feel these factors have run their course. AI-driven power demand growth is already priced in, with tech giants (e.g., Microsoft and Google) all taking concrete steps to diversity their energy suppliers. Read the full article on Seeking Alpha
Seeking Alpha • Jan 22

Enbridge In The Crossfire: Navigating Tariff Risks And Dividend Stability

Summary Enbridge faces geopolitical risks with potential US tariffs on Canadian energy exports, making profit-taking a prudent strategy amid uncertainty. Trump's tariff threats are serious, reflecting past actions on Canadian steel and aluminum, signaling potential trade disruptions. Enbridge's earnings are significantly tied to Canada-US oil and gas trade, with 43% of crude oil and 16% of natural gas segments exposed. Canadian energy stocks underperformed due to tariff threats, suggesting a strategic move to reduce risk and capitalize on current high valuations. Read the full article on Seeking Alpha
Seeking Alpha • Jan 13

Enbridge Preferreds Deliver: Where We Are Going Next

Summary We had previously recommended two Enbridge Preferred shares for low-risk income. We go over the performance of those and tell you why we sold every last share. We examine Enbridge's 2025 guidance and opine on those shares as well. Read the full article on Seeking Alpha
Seeking Alpha • Dec 28

Enbridge: 6.6-7% Yielding Preferred Shares While Common Stock Provides Capital Gains Exposure

Summary Enbridge's strong financials and excellent preferred dividend coverage make a hybrid investment strategy of common shares and preferred securities appealing. Enbridge's DCF performance is impressive, with a projected DCF of C$12B-C$12.9B in 2025, ensuring robust dividend coverage. The Series L preferred shares offer a 6.6% yield, with potential for higher rates upon reset in 2027, making them attractive. Writing put options on Enbridge could be a strategic move, leveraging increased volatility for potentially favorable purchase prices. Read the full article on Seeking Alpha
Seeking Alpha • Dec 22

Enbridge: Dividend Champion Deeply Undervalued

Summary Enbridge's stock and preferred shares are strong buys, offering attractive dividend yields of 6.5% and 7%+ respectively, backed by solid fundamentals and growth prospects. The company's diversified growth projects and strong financial metrics ensure stable cash flow and dividend safety, with a forecasted 9% adjusted EBITDA growth. ENB's valuation is compelling with a fair value estimate of $52.40, presenting a 27% upside potential from the last close of $41.37. Potential risks include the energy transition towards renewables, commodity price fluctuations, and interest rate impacts on Enbridge's substantial debt. Read the full article on Seeking Alpha
Seeking Alpha • Dec 13

Enbridge: My Second Largest Investment For Double Digit Compounding

Summary Enbridge is my second largest portfolio investment. I expect to pocket double digit returns each year as I hold ENB. In this article, I explain why ENB could be viewed as a timely choice for prudent long-term investors, where extra safety does not come at the expense of decent returns. Read the full article on Seeking Alpha
Seeking Alpha • Nov 26

Enbridge: Dividend Play For Retirees And Income Investors, Yielding Over 6%

Summary Enbridge is a top pick for income investors due to its extensive energy infrastructure, 29 years of consecutive dividend growth, and a yield exceeding 6%. A pro-energy Trump administration and lower interest rates are expected to benefit ENB, enhancing its profitability and ability to refinance high-rate debt. ENB's diversified operations in crude, natural gas, and renewables, along with its wide moat, position it well for future growth amid increasing energy demand. Despite risks like environmental spills and high debt, ENB's strong Q3 results and growth projections make it an attractive investment for income-focused portfolios. Read the full article on Seeking Alpha
Seeking Alpha • Nov 10

Enbridge: You 'Ain't Seen Nothing Yet'

Summary Enbridge's 6.2% yield and 29-year dividend hike track record make it a reliable income source, with $27 billion in growth projects enhancing its future potential. A potential tailwind from $6.5 trillion in money market funds could drive investors to high-quality dividend stocks like Enbridge as interest rates decline. Enbridge's mission-critical North American energy infrastructure and strategic expansions in natural gas and offshore pipelines position it well for long-term growth. Despite past performance concerns, Enbridge's current valuation and growth trajectory make it an attractive investment for income and growth-focused investors. Read the full article on Seeking Alpha
Seeking Alpha • Nov 02

Enbridge: Time To Lock In A 7% Yield In U.S. Dollars

Summary Enbridge reported a very robust set of Q3 results, confirming the preferred dividends enjoy an excellent coverage ratio. The Series 5 preferred shares offer a 6.96% preferred dividend yield in USD. I'm planning to write put options on the common shares and further expand my position in preferred securities. Read the full article on Seeking Alpha
Seeking Alpha • Oct 08

Enbridge: Valuations Starting To Look Frothy (Rating Downgrade)

Summary Enbridge stock has recently outperformed the S&P 500 and its energy sector peers. The market is increasingly confident in Enbridge's utility-like earnings profile, affording substantial clarity to its growth prospects. The AI-driven upcycle has also benefited its outlook, lifting its valuations markedly higher. I explain why ENB's valuations have surged to frothy levels relative to its sector peers, which suggests that easy money has likely been made. With my bullish thesis on ENB playing out, I explain why it's timely to turn more cautious and wait for a better opportunity. Read the full article on Seeking Alpha
Seeking Alpha • Oct 01

Enbridge: This 6.5%-Yielding Dividend Aristocrat Is Still Buyable Now

Summary Enbridge is just outside of my portfolio's top 20 holdings. The midstream juggernaut's adjusted EBITDA climbed higher in the second quarter. ENB enjoys investment-grade credit ratings from the major rating agencies. The midstream operator's shares could be priced at a 7% discount to fair value. The Company could be positioned for strong annual total returns for the foreseeable future. Read the full article on Seeking Alpha
Seeking Alpha • Sep 14

Enbridge's New Preferred Shares Yield 8.65%, But I'm Not Interested

Summary Enbridge's new Series 4 preferred shares offer a quarterly floating dividend based on the three-month Canada Government bond rate plus 238 bps. The initial dividend yield is 8.65%, but future dividends may decline as short-term interest rates decrease. Series 4 shares are speculative, relying on short-term interest rates, while Series 3 offers a fixed yield for five years. I prefer the stability of Series 3 over the speculative nature of Series 4 at current price levels. Read the full article on Seeking Alpha
Seeking Alpha • Sep 04

Enbridge: A Fat Pitch 7.0% Yield With A Growth Catalyst

Summary Enbridge reported strong Q2 results with moderate EBITDA and distributable cash flow growth. The company's diversified energy portfolio and solid dividend coverage profile make it a reliable income investment, in my opinion. Data Centers' energy demand is a key growth driver, boosting Enbridge's EBITDA and distributable cash flow prospects. Despite regulatory risks, Enbridge's solid financials and attractive valuation offer strong prospects for long-term dividend growth. Read the full article on Seeking Alpha
Seeking Alpha • Aug 26

Enbridge: A Buy Above, A Hold Below 8% Yield

Summary Enbridge stock has performed well since I last covered it, with a total return of nearly 34% in 10 months, slightly underperforming the S&P 500. Financial metrics show an increase in net debt and tangible invested capital due to the Dominion deal. Share dilution and financing costs from the Dominion deal are currently weighing on ENB's earnings. I think that ENB should be able to report very good results in Q1 and Q2 of 2025 due to the addition of earnings from the acquired entities. Read the full article on Seeking Alpha
Seeking Alpha • Aug 18

Enbridge Dividend Yield Supported By Strong Expansion

Summary Enbridge is undergoing a repositioning, expanding both its utilities segment with $14 billion in acquisitions, and its Gulf Coast operations with more than $10.2 billion in capital spend. Strong acquisition and expansion profile, and it is focusing on building out stable utility cashflows and potential upside through Gulf Coast capacity. Secular tailwinds in liquids from both 500 Mbbl/d in expansion in the WCSB, and continued Permian dominance in US oil output. 6.9% Dividend Yield, with the firm targeting 10-12% yearly shareholder returns overall. Read the full article on Seeking Alpha
Seeking Alpha • Aug 04

Enbridge: I'd Like To Lock In A 7.4% Preferred Dividend Yield

Summary Enbridge's Q2 results showed strong performance, with well-covered preferred dividends and high distributable cash flow. Enbridge announced terms of preferred dividend reset for Series 3 shares, offering a 7.39% yield on cost for the next five years. I plan to initiate a long position in Enbridge's Series 3 preferred shares due to the attractive yield and visibility offered by fixed rate preferred shares. Read the full article on Seeking Alpha
Seeking Alpha • Jun 20

Enbridge And Our Digital Future

Summary Enbridge's connection to our digital future is underestimated. Our digital transformation (e.g., crypto, AI technology, etc.) is pushing our energy demand rapidly. ENB is one of the best-positioned players to help us meet such energy demand. Read the full article on Seeking Alpha
Seeking Alpha • Jun 07

Enbridge: A 7.5% Yielding Buy And Hold Forever Dividend Aristocrat

Summary Enbridge is one of my highest conviction high-yield ideas, making up 7% of my net worth. Enbridge is an industry legend, a dividend aristocrat with risk management in the top 1% of global companies according to S&P. Enbridge has strong financial health, a secured growth backlog, and investments in renewable energy projects, positioning it for long-term sustainable income growth. Management is guiding for 5% long-term growth, potentially for decades, driven by the green energy transition and 50% growth in European Offshore wind. Enbridge is 11% undervalued, offering a 22% potential upside over the next year, and 50% over the next three years, all while providing some of the lowest-risk ultra-yield on Wall Street. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How Enbridge makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:ENB Revenue, expenses and earnings (CAD Millions)
DateRevenueEarningsG+A ExpensesR&D Expenses
31 Mar 2669,0496,4569,7760
31 Dec 2565,1947,0449,6760
30 Sep 2564,2345,5859,6980
30 Jun 2564,4776,2249,5230
31 Mar 2560,9375,8959,5450
31 Dec 2453,4735,0539,2390
30 Sep 2448,5546,2869,0360
30 Jun 2443,5165,5258,8200
31 Mar 2442,6125,5258,5540
31 Dec 2343,6495,8398,4650
30 Sep 2345,7753,0468,2170
30 Jun 2347,5043,7938,2260
31 Mar 2350,2872,3958,1670
31 Dec 2253,3092,5897,9800
30 Sep 2252,4055,4967,5920
30 Jun 2252,2984,8997,2360
31 Mar 2250,0315,8436,7920
31 Dec 2147,0715,8166,5410
30 Sep 2144,5595,7516,6010
30 Jun 2142,2036,0596,4850
31 Mar 2139,2116,3126,5640
31 Dec 2039,0872,9836,6010
30 Sep 2041,4311,9546,5020
30 Jun 2043,9191,9136,6870
31 Mar 2049,2262,0026,8160
31 Dec 1950,0695,3226,8900
30 Sep 1949,2795,6656,8170
30 Jun 1949,0264,6266,7310
31 Mar 1946,5083,9616,7370
31 Dec 1846,3782,5156,6620
30 Sep 1847,7051,6336,3540
30 Jun 1845,5872,4886,3050
31 Mar 1845,9582,3366,2400
31 Dec 1744,3782,5296,1940
30 Sep 1740,8272,6875,9100
30 Jun 1740,0881,8195,4030
31 Mar 1736,9111,2014,7830
31 Dec 1634,5601,7764,2820
30 Sep 1634,1361,7894,2950
30 Jun 1633,9681,2834,2910
31 Mar 1634,6601,5594,1990
31 Dec 1533,794-374,1310
30 Sep 1533,677-3273,9330
30 Jun 1533,6542023,6410

Quality Earnings: ENB has high quality earnings.

Growing Profit Margin: ENB's current net profit margins (9.3%) are lower than last year (9.7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: ENB's earnings have grown by 3.3% per year over the past 5 years.

Accelerating Growth: ENB's earnings growth over the past year (9.5%) exceeds its 5-year average (3.3% per year).

Earnings vs Industry: ENB earnings growth over the past year (9.5%) exceeded the Oil and Gas industry -1.7%.

Return on Equity

High ROE: ENB's Return on Equity (10.3%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/20 04:47
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