ENBRIDGE (ENB) Company Report

Enbridge Inc. announced 2026 financial guidance, projecting adjusted EBITDA between $20.2 billion and $20.8 billion and distributable cash flow (DCF) per share between $5.70 and $6.10.
The company declared its 31st consecutive annual common share dividend increase, raising it by 3% to $0.97 per quarter ($3.88 annualized), effective March 1, 2026.
Enbridge reaffirmed its 2025 full-year guidance and its 2023-2026 compound annual growth rate outlook of 7-9% for EBITDA, 4-6% for adjusted EPS, and approximately 3% for DCF per share, with a post-2026 growth outlook of ~5% for these metrics.
The company expects to deploy approximately $10 billion of growth capital in 2026, funded by $10 billion of debt issuances for refinancing, with no external equity required.

2 days ago

8-K

Enbridge Forecasts 2026 Profit Growth and Raises Dividend

ENB

Guidance Update

Dividends

New Projects/Investments

Enbridge forecasts adjusted EBITDA between C$20.2 billion and C$20.8 billion for 2026, and distributable cash flow per share between C$5.70 and C$6.10.
The company raised its quarterly dividend by 3% to 97 Canadian cents per share, marking the 31st consecutive year of dividend increases.
Growth is driven by new energy projects, gas transmission, rising U.S. power demand, and the recent $14 billion acquisition of three Dominion Energy utilities.
Enbridge aims for compound annual EBITDA growth of 7% to 9% over 2023 to 2026, targeting ongoing 5% EBITDA growth beyond 2026.
The company faces financial challenges, including a relatively high debt-to-equity ratio of 1.59.

2 days ago

Morningstar

Enbridge Announces 2026 Financial Guidance and 3% Dividend Increase

ENB

Guidance Update

Dividends

New Projects/Investments

Enbridge announced its 2026 financial guidance, projecting adjusted EBITDA between $20.2 billion and $20.8 billion and distributable cash flow (DCF) per share of $5.70 to $6.10.
The company declared its 31st consecutive annual common share dividend increase, raising it by 3% to $0.97 per quarter ($3.88 annualized), effective March 1, 2026.
Enbridge reaffirmed its 2025 full-year guidance, expecting to finish in the upper half of the EBITDA range of $19.4 billion to $20.0 billion and at the midpoint for the DCF per share range.
The company reaffirmed its 2023 to 2026 compound annual growth rate outlook of 7-9% for EBITDA, 4-6% for adjusted EPS, and approximately 3% for DCF per share, with a post-2026 growth outlook of approximately 5% for EBITDA, EPS, and DCF per share.
For 2026, Enbridge expects to deploy approximately $10 billion of growth capital and anticipates its debt-to-EBITDA ratio to remain within the 4.5-5.0x target range.

2 days ago

Press Release

Enbridge Inc. Announces Quarterly Dividend Increase

ENB

Dividends

Enbridge Inc. declared a quarterly dividend of $0.9700 per common share.
This dividend, payable on March 1, 2026, to shareholders of record on February 17, 2026, represents a 3% increase from the prior quarterly rate.
This marks the 31st consecutive year the company has increased its common share dividend.

2 days ago

Press Release

Enbridge Inc. completes US$1.5 billion senior notes offering

ENB

Debt Issuance

Enbridge Inc. completed an offering of US$1.5 billion aggregate principal amount of senior notes on November 20, 2025.
The offering included three tranches: US$500,000,000 of 4.200% Senior Notes due 2028, US$500,000,000 of 4.500% Senior Notes due 2031, and US$500,000,000 of 5.200% Senior Notes due 2035.
The notes are fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP, which are indirect, wholly-owned subsidiaries of Enbridge Inc..

Nov 20, 2025, 9:19 PM

8-K

Enbridge Approves $1.4 Billion Pipeline Expansion

ENB

New Projects/Investments

Enbridge Inc. has approved a $1.4 billion expansion project, Mainline Optimization Phase 1 (MLO1), to increase the capacity of its Mainline network and Flanagan South Pipeline.
This expansion aims to enhance the transportation of Canadian heavy crude oil to key U.S. refining markets in the Midwest and Gulf Coast.
The project will add 150,000 barrels per day to the Mainline and 100,000 barrels per day to the Flanagan South Pipeline, with the increased capacity expected by 2027.
The expansion is underpinned by long-term contracts, with most existing Flanagan South Pipeline customers extending their agreements through the next decade.

Nov 14, 2025, 12:05 PM

Morningstar

Enbridge announces final investment decision for Mainline Optimization Phase 1

ENB

New Projects/Investments

Guidance Update

Enbridge Inc. has reached a final investment decision on the Mainline Optimization Phase 1 (MLO1) project, aimed at increasing deliveries of Canadian heavy oil to U.S. refining markets.
The project has an expected aggregate capital cost of US$1.4 billion.
MLO1 will add 150 kbpd of Mainline system capacity and 100 kbpd of Flanagan South Pipeline (FSP) capacity, with availability anticipated in 2027.
The FSP expansion is underpinned by long-term take-or-pay contracts.

Nov 14, 2025, 12:00 PM

Press Release

Enbridge Reports Q3 2025 Results and 2025 Outlook

ENB

Earnings

Guidance Update

New Projects/Investments

Enbridge Inc. reported a record adjusted EBITDA of C$4.27 billion for Q3 2025, driven by contributions from U.S. gas utilities and growth in gas transmission, despite adjusted earnings per share falling short of analyst expectations due to higher financing costs.
The company reaffirmed its 2025 guidance, targeting up to $20 billion in adjusted EBITDA and $5.90 per share in distributable cash flow.
Enbridge announced $3 billion in new growth capital investments, including the sanctioning of the Southern Illinois Connector, supporting its long-term strategy with a 5% annual growth target through 2030.
Despite solid operating margins, Enbridge's Altman Z-Score of 0.99 indicates it is in the financial distress zone due to a high debt-to-equity ratio and low liquidity ratios.

Nov 8, 2025, 2:14 AM

WSJ

Enbridge Sanctions New Projects and Confirms Growth Outlook in Q3 2025

ENB

New Projects/Investments

Guidance Update

Enbridge has sanctioned significant projects, including MLO one (150,000 barrels per day by 2027) and MLO two (250,000 barrels per day by 2028) for liquids egress, the Canyon pipeline system (totaling approximately $1 billion U.S. by 2029), and the Eiger Express pipeline (2.5 BCF a day by 2028).
The company is expanding natural gas storage by over 60 BCF near major LNG centers, with over $10 billion sanctioned in projects adjacent to export facilities, to meet an anticipated 17 BCF per day of additional LNG-related natural gas demand by 2030.
The Gas Distribution business is capitalizing on data center and power generation opportunities, identifying over 50 opportunities that could serve up to 5 BCF a day of demand, with nearly 1 BCF per day already secured.
Enbridge maintains confidence in achieving 5% EBITDA growth over the medium term post-2026, expecting DCF per share growth to converge with EBITDA growth later in the decade as cash taxes plateau.

Nov 7, 2025, 2:00 PM

Transcript

Enbridge Reports Record Q3 2025 Adjusted EBITDA and Reaffirms Full-Year Guidance

ENB

Earnings

Guidance Update

New Projects/Investments

Enbridge reported a strong third quarter of 2025, achieving record adjusted EBITDA.
The company reaffirmed its 2025 guidance, expecting to finish the year in the upper half of its EBITDA guidance range of $19.4 billion-$20 billion and at the midpoint of its DCF per share guidance of $5.50-$5.90.
Enbridge's debt to EBITDA ratio for Q3 2025 was 4.8 times, remaining within its target range of 4.5 to 5 times.
During the quarter, $3 billion of new growth capital was added to the secured capital program, including projects such as the Southern Illinois Connector, Egan and Moss Bluff storage expansions, Algonquin Gas Transmission Enhancement, Eiger Express pipeline, and the Pelican CO2 hub.
The company anticipates achieving 5% growth through the end of the decade, supported by $35 billion in secured capital.

Nov 7, 2025, 2:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for ENBRIDGE.

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What are ENBRIDGE's strategic priorities?How is ENBRIDGE positioned vs competitors?How did ENBRIDGE do last quarter?

Let Fintool AI Agent track ENBRIDGE's earnings for you

Get instant analysis when filings drop