Enbridge (NYSE:ENB) Posts Earnings Results, Beats Estimates By $0.02 EPS

Enbridge (NYSE:ENB) (TSE:ENB) issued its quarterly earnings results on Friday. The pipeline company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02, Zacks reports. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $8.49 billion. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.During the same quarter in the previous year, the firm posted $1.03 EPS.

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

• Enbridge reaffirmed 2026 guidance and its mid?term outlook, reiterating ~5% average annual growth through 2030 supported by diversified, regulated cash flows.
• Management highlighted a ~CAD 40 billion secured capital backlog (plus ~CAD 17B added since the investor day) and new sanctioned projects including Mainline Optimization Phase 2 (250k b/d by 2028) and Ingleside/Gray Oak export and storage expansions.
• Line 5 relocation in Wisconsin is now approaching US$900 million total cost (about US$600 million remaining) with completion targeted in late 2026 and the Michigan tunnel not until the early 2030s, adding material near?term capex and permitting risk (company says costs will be recovered via shipper tolls).
• Renewables and power growth accelerated, with Sequoia (815 MW), a sanctioned 300 MW Cone wind project with Meta (~US$700M, in service by end?2027) and ~1.5 GW of additional safe?harbor projects providing contracted, long?term cash flows.
• Leverage sits at the top end of the target 4.5–5.0x debt/EBITDA band; management expects it may remain elevated while executing the build program but plans to normalize as major projects enter service.

Enbridge Stock Performance

Shares of ENB stock traded down $0.40 during trading hours on Friday, reaching $53.59. 5,074,274 shares of the company’s stock were exchanged, compared to its average volume of 4,227,808. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.63 and a quick ratio of 0.55. The company’s 50 day moving average is $53.69 and its two-hundred day moving average is $50.10. The company has a market cap of $117.01 billion, a P/E ratio of 23.30 and a beta of 0.59. Enbridge has a 1 year low of $43.59 and a 1 year high of $55.49.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a dividend of $0.97 per share. The ex-dividend date is Friday, May 15th. This represents a $3.88 annualized dividend and a yield of 7.2%. Enbridge’s payout ratio is presently 120.87%.

Enbridge News Roundup

Here are the key news stories impacting Enbridge this week:

• Positive Sentiment: Enbridge reported first-quarter earnings that topped expectations, helped by stronger gas transmission volumes tied to robust power demand. The company also reaffirmed its 2026 financial guidance, which can reassure investors about the outlook. Enbridge beats first-quarter profit estimates
• Positive Sentiment: Management said secured backlog grew to $40 billion, signaling continued project visibility and future growth potential. Enbridge Reports Strong First Quarter Results, Reaffirms 2026 Financial Guidance, and Grows Secured Backlog to $40 Billion
• Neutral Sentiment: Enbridge’s latest dividend declaration reinforces its appeal as an income stock, with a high yield supporting investor interest, but this is unlikely to be a major near-term catalyst. Enbridge Inc. Announces Election of Directors
• Negative Sentiment: Some coverage highlighted that first-quarter profit fell on derivative losses and softer operating results, which may be tempering enthusiasm despite the earnings beat. Enbridge 1Q Profit Falls on Derivative Losses, Softer Operating Results

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ENB shares. Scotiabank reiterated an “outperform” rating on shares of Enbridge in a research note on Tuesday, February 17th. Royal Bank Of Canada increased their price target on Enbridge from $72.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Enbridge in a research report on Tuesday, February 17th. JPMorgan Chase & Co. cut shares of Enbridge from an “overweight” rating to a “neutral” rating in a research note on Tuesday, January 27th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its stake in shares of Enbridge by 4.9% during the 4th quarter. Mackenzie Financial Corp now owns 18,163,267 shares of the pipeline company’s stock worth $870,577,000 after purchasing an additional 844,594 shares during the period. Scotia Capital Inc. lifted its stake in shares of Enbridge by 2.1% in the third quarter. Scotia Capital Inc. now owns 14,369,949 shares of the pipeline company’s stock valued at $723,404,000 after purchasing an additional 300,391 shares during the period. Morgan Stanley lifted its stake in shares of Enbridge by 13.6% in the fourth quarter. Morgan Stanley now owns 14,067,947 shares of the pipeline company’s stock valued at $672,870,000 after purchasing an additional 1,687,858 shares during the period. Amundi boosted its holdings in Enbridge by 8.0% during the fourth quarter. Amundi now owns 10,413,935 shares of the pipeline company’s stock worth $498,099,000 after buying an additional 775,475 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its position in Enbridge by 2.0% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 8,220,909 shares of the pipeline company’s stock worth $392,851,000 after buying an additional 162,406 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

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.