Enbridge (NYSE:ENB) Issues Quarterly Earnings Results

Key Points

• Enbridge beat quarterly earnings expectations, reporting EPS of $0.39 versus the $0.36 consensus; revenue was $21.08 billion, above analysts’ $9.62 billion estimate.
• The company reaffirmed its 2026 guidance, expects results near the midpoint, and cited a C$38 billion secured growth backlog amid rising demand for gas infrastructure.
• Enbridge declared a quarterly dividend of C$0.97 per share, equivalent to an 8.3% annualized yield. Shares fell $1.27 to $46.84 on Friday.

Enbridge (NYSE:ENB - Get Free Report) TSE: ENB issued its quarterly earnings results on Friday. The pipeline company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.03, Zacks reports. Enbridge had a return on equity of 11.17% and a net margin of 7.20%. The business had revenue of $21.08 billion for the quarter, compared to analyst estimates of $9.62 billion.

Here are the key takeaways from Enbridge's conference call:

• Enbridge reaffirmed its 2026 guidance and expects results near the midpoint, marking the 21st consecutive year it expects to meet guidance. Adjusted EBITDA rose CAD 167 million year over year, supported by strength across its businesses.
• The company cited a CAD 38 billion secured growth backlog and rising demand for energy infrastructure, particularly natural gas for power generation and LNG. Recent project milestones include Aspen Point and Tennessee Ridgeline entering service, with further pipeline and utility opportunities under development.
• Enbridge announced the Tallgrass crude transportation and Salt Creek gathering acquisitions and completed a CAD 3 billion equity offering to help fund transactions and preserve capacity for organic growth. Reported debt-to-EBITDA was 5.1x at quarter-end due to foreign-exchange movements; management said adjusted leverage remained within its target range.
• Liquids results faced lower Line 9 tolls and reduced Flanagan South throughput, while higher financing costs partly offset DCF growth. Management said its outlook continues to reflect lower liquids market-access contributions and higher U.S. interest rates.
• CEO Greg Ebel plans to retire at year-end, with Michele Harradence set to become CEO on January 1. Harradence emphasized continuity in Enbridge’s capital discipline, operating priorities, and diversified energy strategy.

Enbridge Stock Performance

Shares of ENB stock traded down $1.27 during trading hours on Friday, hitting $46.84. The company's stock had a trading volume of 10,477,675 shares, compared to its average volume of 3,912,232. The stock has a market cap of $104.39 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 5.91 and a beta of 0.59. Enbridge has a 12-month low of $45.03 and a 12-month high of $58.45. The company has a 50 day moving average of $48.10 and a 200 day moving average of $52.18. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.69.

Enbridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a C$0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Friday, November 13th. Enbridge's dividend payout ratio is 147.06%.

Enbridge News Summary

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge reported third-quarter adjusted earnings of C$0.39 per share, above the C$0.36 consensus, with revenue also topping estimates. Profit rose substantially from a year earlier, supported in part by its natural gas businesses. Article: Enbridge Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: The company reaffirmed its 2026 financial guidance and said more than C$3 billion of gas transmission projects entered service, supporting its growth and earnings outlook. Article: Enbridge Reports Strong Third Quarter Results
• Neutral Sentiment: Enbridge is exploring a pipeline role in Canada’s Pathways carbon-capture network. It also plans to acquire Tallgrass Crude to expand its Rockies pipeline corridor; these opportunities could add growth, though the reports do not detail their financial impact. Article: Enbridge and the Pathways carbon-capture network
• Neutral Sentiment: CEO Greg Ebel is set to retire in January, with Michele Harradence stepping up. The planned transition could be worth watching, but no change in strategy is reported. Article: Enbridge CEO to Retire

Analysts Set New Price Targets

ENB has been the subject of a number of recent analyst reports. TD upgraded shares of Enbridge to a "buy" rating in a research note on Tuesday, September 15th. Jefferies Financial Group reiterated a "hold" rating on shares of Enbridge in a research note on Monday, September 14th. Wolfe Research set a $50.00 price objective on shares of Enbridge in a report on Tuesday, August 4th. US Capital Advisors raised Enbridge from a "hold" rating to a "moderate buy" rating in a research report on Thursday, August 20th. Finally, The Goldman Sachs Group assumed coverage on Enbridge in a research report on Wednesday, September 30th. They issued a "neutral" rating and a $50.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Enbridge currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.88.

About Enbridge

Enbridge Inc is a North American energy infrastructure company that transports and distributes energy. Its businesses include crude oil and liquids pipelines, natural gas transmission and storage, and natural gas utilities that serve homes and businesses.

Founded in 1949 as Interprovincial Pipe Line Company, Enbridge has grown into a cross-border operator serving customers and energy markets in Canada and the United States. Its infrastructure moves crude oil, natural gas and natural gas liquids, connecting producers with refineries, utilities and other markets.

Enbridge also invests in renewable power, including wind and solar projects, alongside its energy transportation and distribution operations.

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