Enbridge (NYSE:ENB) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Enbridge (NYSE:ENB) (TSE:ENB) posted its quarterly earnings data on Friday. The pipeline company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03, Zacks reports. The firm had revenue of $17.18 billion during the quarter, compared to analyst estimates of $9.10 billion. Enbridge had a net margin of 9.20% and a return on equity of 10.51%. During the same quarter last year, the business posted $0.75 EPS.

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

• Strong 2025 financials and balance sheet: Enbridge beat midpoint 2025 guidance for EBITDA and DCF per share, maintained debt/EBITDA ~4.8x, and extended its dividend increase streak to 31 years while reaffirming 2026 guidance (EBITDA CAD 20.2–20.8bn; DCF CAD 570–610c/sh).
• Accelerating growth backlog and capital capacity: The company sanctioned ~CAD 14bn in 2025, placed CAD 5bn in service, grew its backlog to ~CAD 39bn (up 35% since Investor Day) and raised annual investment capacity to CAD 10–11bn, targeting another CAD 10–20bn of FIDs over the next 24 months.
• Liquids/Mainline execution: Mainline volumes averaged ~3.1m bpd with frequent apportionment; Enbridge sanctioned MLO Phase 1 (150kbd + 100kbd Flanagan South), is commercializing MLO Phase 2 and progressing MLO 3, and reported a favorable Line Five court ruling and Corps EIS milestone.
• Material gas-transmission growth runway: Gas transmission posted high utilization with a 100% major-pipeline contract renewal rate, sanctioned Permian-related expansions (including Bay Runner) and upsized Eiger Express, and is pursuing >50 data-center opportunities that could require up to 10 BCF/day plus storage builds.
• Policy and regulatory risks remain: Management flagged regulatory outcomes and Canadian policy clarity (e.g., carbon/industrial charge) as critical to West Coast pipeline timing, and noted a disappointing Enbridge Gas Ohio rate decision that required refiling, highlighting regulatory and political risks that could delay projects or returns.

Enbridge Price Performance

NYSE:ENB opened at $53.86 on Friday. Enbridge has a 52 week low of $39.73 and a 52 week high of $54.20. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. The stock has a market cap of $117.52 billion, a PE ratio of 23.42 and a beta of 0.69. The business’s 50-day simple moving average is $47.96 and its two-hundred day simple moving average is $47.97.

Enbridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a dividend yield of 7.2%. This is a boost from Enbridge’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Tuesday, February 17th. Enbridge’s dividend payout ratio is currently 147.80%.

Key Stories Impacting Enbridge

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Record 2025 results and reaffirmed guidance — Enbridge posted record full‑year earnings of CAD $7.1B (≈$3.23/sh) for 2025 and reiterated its 2026 financial guidance, while growing secured backlog to $39B, supporting longer‑term cash‑flow visibility. Read More.
• Positive Sentiment: Quarterly beat — Q4 results topped estimates on both earnings and revenue, driven by stronger gas and liquids volumes from higher power and nat‑gas demand, which analysts point to as the main driver of the beat. Read More.
• Positive Sentiment: Market reaction to strong metrics — Detailed releases show EPS and revenue upside versus consensus (company materials and analyst writeups), which is encouraging for near‑term earnings expectations and supports the dividend/cash‑flow story. Read More.
• Positive Sentiment: Unusual bullish options activity — Large call buying (≈81,448 calls, ~3,399% above typical daily call volume) suggests speculative or hedged bullish positioning that can add short‑term buying pressure.
• Neutral Sentiment: Regulatory/filing housekeeping — Enbridge filed its 2025 Form 10‑K, audited financials and set a virtual shareholder meeting; standard disclosure that reduces information uncertainty. Read More.
• Neutral Sentiment: Analyst commentary mixed on longer‑term crude vs. gas dynamics — Some coverage highlights higher dividend potential and Q4 tailwinds from nat‑gas but mixed sentiment remains around crude volume headwinds. Read More.
• Negative Sentiment: Potential competitive headwind from rising crude imports — Reports note increased Venezuelan oil headed to the U.S. Gulf Coast could pressure some crude flows and midstream volumes; management says it’s unfazed, but rising imports are a risk to watch for pipeline throughput. Read More.

Institutional Investors Weigh In On Enbridge

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its position in shares of Enbridge by 43.7% during the third quarter. Raymond James Financial Inc. now owns 6,633,703 shares of the pipeline company’s stock worth $334,737,000 after acquiring an additional 2,016,674 shares during the period. Morgan Stanley increased its position in Enbridge by 13.6% during the 4th quarter. Morgan Stanley now owns 14,067,947 shares of the pipeline company’s stock valued at $672,870,000 after buying an additional 1,687,858 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Enbridge in the 2nd quarter valued at approximately $39,503,000. CANADA LIFE ASSURANCE Co grew its holdings in shares of Enbridge by 25.0% during the second quarter. CANADA LIFE ASSURANCE Co now owns 2,935,730 shares of the pipeline company’s stock valued at $132,718,000 after buying an additional 586,537 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Enbridge in the fourth quarter valued at about $24,033,000. 54.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Zacks Research raised Enbridge from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. JPMorgan Chase & Co. lowered Enbridge from an “overweight” rating to a “neutral” rating in a research report on Tuesday, January 27th. Scotiabank upgraded shares of Enbridge from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 16th. Weiss Ratings upgraded shares of Enbridge from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Finally, National Bank Financial reiterated a “sector perform” rating on shares of Enbridge in a research report on Monday, November 10th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.