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Enbridge (ENB) AI Stock Analysis
Enbridge
(TSX:ENB)
The score is driven primarily by solid operating performance and constructive earnings-call visibility (reaffirmed guidance, EBITDA growth, and a large sanctioned/backlog pipeline), tempered by elevated leverage and weaker recent cash conversion. Technicals are improving short-term but remain below key longer-term moving averages, while valuation is helped by the high dividend yield but constrained by a mid-to-high P/E.
Enbridge (ENB) vs. iShares MSCI Canada ETF (EWC)
- Market Cap
- CAD 110.24B
- Dividend Yield
- 5.57%
- Average Volume (3M)
- 10.01M
- Price to Earnings (P/E)
- 23.0
- Beta (1Y)
- 0.24
- Revenue Growth
- 28.91%
- EPS Growth
- -8.55%
- Country
- Canada
- Employees
- 14,800
- Sector
- Energy
- Sector Strength
- 65
- Industry
- Oil & Gas Midstream
Enbridge Business Overview & Revenue Model
Company Description
Enbridge Inc., together with its subsidiaries, operates as an energy infrastructure company. The company operates through four segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation. The Liquids Pi...
How the Company Makes Money
Enbridge primarily makes money by operating long-lived energy infrastructure assets that earn revenue through regulated rates and contracted fees rather than directly taking commodity-price exposure. 1) Liquids Pipelines (crude oil and other liquids...
Enbridge Earnings Call Summary
The call presented a strong operational and commercial progress narrative: high utilization, material project progress (Blackcomb commissioning, Houston terminal in service, Line 5 relocation sanctioned), sizable sanctioned capital and a large secured backlog, meaningful gas and renewables momentum, and improved adjusted EBITDA (+$130M y/y). Key financial priorities (equity self-funding, shareholder returns, reaffirmed 2026 guidance) and utility rate-base growth underpin resilience. The primary negatives were manageable near-term items: slight EPS decline from non-cash and financing charges, leverage at 5.1x influenced by FX, headwinds from lower market access contributions and higher interest rates, and timing/permitting uncertainty for larger upstream Mainline decisions (MLO2) driven by policy implementation and commodity/geopolitical volatility. Overall, positives (project sanctions, backlog, EBITDA growth, renewables and gas demand momentum, and utility growth) substantially outweigh the noted lowlights, though execution and permitting timing remain watch points.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Enbridge reaffirmed its 2026 guidance, reporting Q2 adjusted EBITDA up >$130M YoY and Mainline volumes of 3.1 million bpd, and said it has sanctioned ~ $9B YTD and is on track to secure up to $20B of projects in 2026–27 against a $41B secured backlog and ~$50B organic growth opportunity through 2030. Notable program metrics include a $2B Mainline capital program through 2028, 180,000 bpd of incremental Mainline capacity (Phase 1 + SIC), the $1B Wisconsin Line 5 relocation (ISD early‑2027), Southern Lights (~200k bpd) and Norlite (>200k bpd) condensate capacity, Blackcomb commissioning toward year‑end, Bay Runner Twin sanctioned and an option to acquire TTC Connector on expected year‑end service. Renewables guidance includes >2 GW under construction, >1.4 GW with Meta plus 1.6 GWh of battery storage, >1.5 GW safe‑harbor opportunities and 10.5 GW of power projects sanctioned/under construction. On finance, Q2 exit leverage was 5.1x (management target 4.5–5x; CAD/USD 1.42 vs Q2 avg 1.38), the company returned $38B to shareholders over the past 5 years and targets $40–45B over the next 5, and it noted 31 consecutive years of dividend increases.
Enbridge Financial Statement Overview
Summary
Income statement strength (score 74) is supported by sharply re-accelerating TTM revenue growth (+16.6%) and solid sector profitability, but this is offset by a leveraged balance sheet (score 58; debt-to-equity ~1.69 and rising debt over time) and weaker/volatile cash conversion (cash flow score 54; compressed free cash flow vs prior years).
Income Statement
74PositiveBalance Sheet
58NeutralCash Flow
54Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 97.46B | 65.13B | 53.59B | 42.89B | 53.45B | 46.80B |
| Gross Profit | 27.45B | 21.24B | 19.41B | 17.00B | 16.64B | 14.14B |
| EBITDA | 20.06B | 20.49B | 16.95B | 16.31B | 9.85B | 12.28B |
| Net Income | 7.10B | 7.49B | 5.44B | 6.19B | 3.00B | 6.19B |
Balance Sheet | ||||||
| Total Assets | 231.65B | 218.47B | 218.97B | 180.32B | 179.61B | 168.86B |
| Cash, Cash Equivalents and Short-Term Investments | 2.07B | 1.18B | 1.80B | 5.90B | 861.00M | 286.00M |
| Total Debt | 112.13B | 106.50B | 101.67B | 81.20B | 80.98B | 75.64B |
| Total Liabilities | 162.80B | 152.55B | 150.08B | 115.83B | 116.21B | 105.50B |
| Stockholders Equity | 65.35B | 62.33B | 65.90B | 61.45B | 59.89B | 60.83B |
Cash Flow | ||||||
| Free Cash Flow | 2.41B | 3.98B | 5.67B | 9.32B | 6.41B | 1.97B |
| Operating Cash Flow | 14.08B | 12.95B | 12.60B | 14.20B | 11.23B | 9.79B |
| Investing Cash Flow | -13.55B | -11.17B | -20.36B | -6.04B | -5.27B | -11.18B |
| Financing Cash Flow | 437.32M | -2.41B | 3.54B | -2.86B | -5.43B | 1.22B |
Enbridge Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ENB, the sentiment is Neutral. The current price of 69.11 is above the 20-day moving average (MA) of 67.13, above the 50-day MA of 67.80, and below the 200-day MA of 71.33, indicating a neutral trend. The MACD of 0.22 indicates Negative momentum. The RSI at 61.00 is Neutral, neither overbought nor oversold. The STOCH value of 84.55 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:ENB.
Enbridge Risk Analysis
Enbridge disclosed 33 risk factors in its most recent earnings report. Enbridge reported the most risks in the "Production" category.
- Finance & Corporate2
- Tech & Innovation4
- Legal & Regulatory8
- Production10
- Ability to Sell3
- Macro & Political6
Latest Risks Added
0 New RisksEnbridge Peers Comparison
Overall Rating
TSE:PPL73Outperform
TSE:TRP68Neutral
TSE:ALA65Neutral- TSE:ENB64Neutral
TSE:GEI62Neutral
TSE:KEY57Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TSE:PPL | 73Outperform | CAD 41.70B | 25.25 | 10.54% | 4.03% | -0.28% | -4.26% |
| TSE:TRP | 68Neutral | CAD 93.94B | 27.07 | 13.07% | 3.86% | 5.52% | -18.22% |
| Sector * | 65Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
| TSE:ALA | 65Neutral | CAD 17.32B | 28.23 | 6.83% | 2.37% | 17.77% | -20.42% |
| TSE:ENB | 64Neutral | CAD 156.72B | 23.04 | 10.01% | 5.57% | 28.91% | -8.55% |
| TSE:GEI | 62Neutral | CAD 5.87B | 33.98 | 18.23% | 5.23% | 18.62% | 3.09% |
| TSE:KEY | 57Neutral | CAD 16.29B | 39.08 | 10.81% | 3.93% | 0.24% | -38.65% |
* Energy Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TSE:ENB | Enbridge Inc | 69.11 | 7.01 | 11.30% | |
| TSE:PPL | Pembina Pipeline Corp. | 71.71 | 21.19 | 41.95% | |
| TSE:TRP | Tc Energy Corporation | 90.16 | 22.64 | 33.54% | |
| TSE:GEI | Gibson Energy Inc. | 34.05 | 11.72 | 52.50% | |
| TSE:ALA | AltaGas Ltd. | 55.52 | 15.59 | 39.05% | |
| TSE:KEY | Keyera Corp. | 55.50 | 16.01 | 40.54% |
Enbridge Corporate Events
Enbridge Sets CEO Succession as Greg Ebel Retires and Michele Harradence Takes Helm
PositiveEnbridge announced that President and Chief Executive Officer Greg Ebel will retire on December 31, 2026, with Executive Vice-President and President, Gas Distribution and Storage, Michele Harradence succeeding him as President and CEO and joining th...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 01, 2026