Financial Performance and Metrics - Management uses EBITDA as a key performance measure, providing transparency into Enbridge's performance[21] - Changes in tax rates and new tax legislation could materially affect Enbridge's financial condition and operating results[322] - The company is exposed to credit risk from customers and counterparties, which could adversely affect earnings and cash flows[308] Debt and Capital Access - A significant portion of Enbridge's asset base is financed with debt, and maintaining an investment-grade credit rating is crucial for cost-effective capital access[301] - The company maintains revolving credit facilities to support liquidity, which are subject to financial covenants[302] Commodity Prices and Project Development - Enbridge's Liquids Pipelines growth may be indirectly affected by commodity prices, with low crude oil prices potentially delaying or canceling future projects[304] - The company holds a 13.2% effective economic interest in DCP, which is impacted by commodity price fluctuations[307] Regulatory and Environmental Factors - Regulatory scrutiny and potential changes in environmental laws could increase operating costs and limit future projects[318] - Enbridge's Renewable Power Generation assets in Canada and the US are subject to variable government regulations that can negatively impact revenues[320] - Environmental regulatory approvals are critical for the operation and development of Enbridge's facilities, with potential delays leading to increased costs[315] - There has been an increase in climate-related regulatory action and litigation against companies in the energy industry[324] Legal Proceedings and Risks - The company is involved in numerous legal proceedings, with uncertain outcomes that could adversely affect financial results and reputation[324] - The company cannot predict the outcome of individual legal matters with assurance, indicating a high level of uncertainty[324] - Final resolutions of ongoing legal matters may require additional expenditures beyond established reserves, potentially impacting financial results[324] - The company is subject to various legal proceedings that could lead to adverse financial implications over an extended period[324] - Recent developments in legal proceedings are discussed in the Management's Discussion and Analysis section of the financial report[324]

Financial Performance - Full-year GAAP earnings were $5.1 billion or $2.34 per common share, a decrease from $5.8 billion or $2.84 per common share in 2023[2]. - Full-year adjusted earnings increased to $6.0 billion or $2.80 per common share, compared to $5.7 billion or $2.79 per common share in 2023[2]. - Full-year adjusted EBITDA rose by 13% to $18.6 billion, up from $16.5 billion in 2023[2]. - Distributable cash flow (DCF) for the year was $12.0 billion, a 6% increase from $11.3 billion in 2023[2]. - Adjusted earnings for Q4 2024 increased by $277 million, totaling $1,640 million, with adjusted earnings per share rising to $0.75[62]. - Full year adjusted earnings increased by $294 million compared to 2023, reaching $6,037 million, with adjusted earnings per share slightly up to $2.80[62]. - Enbridge reported an adjusted EBITDA of CAD 5,130 million for Q4 2024, up from CAD 4,107 million in Q4 2023, representing a 24.9% increase[89]. - The company's adjusted earnings for Q4 2024 were CAD 1,640 million, compared to CAD 1,363 million in Q4 2023, reflecting a growth of 20.4%[89]. - Enbridge's total EBITDA for the twelve months ended December 31, 2024, was CAD 16,885 million, slightly increasing from CAD 16,304 million in the previous year[88]. Growth and Investments - Enbridge completed a $19 billion acquisition of three leading U.S. gas utilities, enhancing its position in the North American market[6]. - The company placed $5 billion of organic projects into service in 2024 and sanctioned $8 billion of new organic projects during the year[2][25]. - The secured growth backlog now stands at approximately $26 billion, supported by commercial frameworks consistent with Enbridge's low-risk model[25]. - Enbridge plans to file a settlement in principle for Algonquin Gas Transmission with the FERC in Q1 2025, with rates expected to be effective December 1, 2024[29]. - The company is investing in new technologies including hydrogen, renewable natural gas, and carbon capture and storage to enhance its energy delivery infrastructure[76]. - Enbridge's strategic priorities include expanding its North American natural gas, oil, and renewable power networks, as well as growing its European offshore wind portfolio[76]. Dividends and Shareholder Returns - Enbridge increased its 2025 quarterly dividend by 3.0% to $0.9425 per share, marking the 30th consecutive annual increase[2][23]. - The quarterly dividend per common share was increased by 3% to $0.9425, effective March 1, 2025[67]. Operational Metrics - Mainline volumes averaged 3.1 million barrels per day in 2024, exceeding guidance assumptions[4]. - Enbridge Gas Ontario reported volumes of 532 billion cubic feet in Q4 2024, down from 620 billion cubic feet in Q4 2023, with the number of active customers remaining stable at 3.9 million[46][47]. - Cash provided by operating activities for Q4 2024 was CAD 3,662 million, a decrease from CAD 3,812 million in Q4 2023[97]. - Total cash provided by operating activities for the twelve months ended December 31, 2024, was CAD 12,600 million, down from CAD 14,201 million in 2023[97]. Segment Performance - Enbridge's Liquids Pipelines segment reported adjusted EBITDA of CAD 2,395 million for Q4 2024, an increase of CAD 30 million compared to Q4 2023, and a full-year increase of CAD 219 million compared to 2023[43]. - Gas Transmission adjusted EBITDA reached CAD 1,272 million in Q4 2024, up CAD 188 million from Q4 2023, with a full-year increase of CAD 384 million compared to 2023, driven by acquisitions and favorable contracting[45]. - Gas Distribution and Storage adjusted EBITDA for Q4 2024 was CAD 1,015 million, a significant increase from CAD 519 million in Q4 2023, with a full-year increase of CAD 996 million compared to 2023[46][51]. - Liquids Pipelines segment reported an EBITDA of CAD 2,352 million for Q4 2024, down from CAD 2,439 million in Q4 2023, indicating a decrease of 3.6%[88]. - Gas Transmission segment achieved an EBITDA of CAD 1,150 million in Q4 2024, an increase of 10.2% from CAD 1,044 million in Q4 2023[92]. - Gas Distribution and Storage segment's EBITDA rose significantly to CAD 1,015 million in Q4 2024, compared to CAD 238 million in Q4 2023, marking a substantial increase of 326.9%[93]. - Renewable Power Generation segment reported an EBITDA of CAD 236 million for Q4 2024, recovering from a loss of CAD 146 million in Q4 2023[94]. Cash Flow and Expenditures - Distributable Cash Flow (DCF) for Q4 2024 increased by $342 million year-over-year, reaching $3,074 million, primarily due to higher adjusted EBITDA[59]. - Full year 2024 DCF increased by $724 million compared to 2023, totaling $11,991 million, driven by operational factors and higher investment income[59]. - Adjusted cash flow after changes in operating assets and liabilities for Q4 2024 was CAD 3,443 million, up from CAD 2,962 million in Q4 2023[97]. - Maintenance capital expenditures for Q4 2024 were CAD 370 million, an increase from CAD 270 million in Q4 2023[97]. - Distributions to noncontrolling interests for the twelve months ended December 31, 2024, totaled CAD 333 million, slightly down from CAD 363 million in 2023[97]. - Preference share dividends for the twelve months ended December 31, 2024, were CAD 388 million, compared to CAD 352 million in 2023[97]. Future Outlook - The company reaffirmed its 2025 financial guidance for adjusted EBITDA between $19.4 billion and $20.0 billion and DCF per share between $5.50 and $5.90[22]. - Forward-looking statements indicate expectations for continued growth in adjusted EBITDA and DCF per share, alongside anticipated benefits from recent acquisitions[71].

CALGARY, AB, Feb. 14, 2025 /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today reported fourth quarter 2024 financial results, reaffirmed its 2025 financial guidance and provided a quarterly business update.Highlights(All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. Please refer to Non-GAAP Reconciliations Appendices.) Full-year GAAP earnings of $5.1 billion or $2.34 per common share, compared with G ...

If you are trying to set up a portfolio that will provide you with a lifetime of income, you'll want to take a close look at Enbridge (ENB 0.78%). Not only does this giant North American midstream company offer a compelling 6.1% dividend yield, but it is making moves today to ensure that it can continue to grow, even as the world shifts toward cleaner energy sources.Here's why I'm predicting good things for Enbridge and its shareholders in the decades ahead.What does Enbridge do?Enbridge gets lumped in with ...

Core Viewpoint - Enbridge Inc (ENB) is expected to report its fourth-quarter 2024 results on February 14, with earnings estimates showing a potential improvement compared to the previous year, while revenue estimates indicate a significant decline [1][2]. Earnings Estimates - The Zacks Consensus Estimate for fourth-quarter earnings is 52 cents per share, reflecting a 10.6% increase from the prior year's reported figure [2]. - Quarterly revenue is estimated at $4.8 billion, suggesting a 42.9% decrease from the year-ago actuals [2]. - ENB has a history of mixed earnings performance, beating estimates once, meeting once, and missing twice in the last four quarters, with an average surprise of 0.7% [3]. Earnings Prediction - The company has an Earnings ESP of +0.41%, with the Most Accurate Estimate at 53 cents per share, indicating a favorable outlook for an earnings beat [4]. Operational Overview - Enbridge operates an extensive crude oil and liquids transportation network of 18,085 miles, and a gas transportation pipeline network of 71,308 miles, making it a leading midstream energy player in North America [5]. - The company transports 20% of the total natural gas consumed in the U.S., which is expected to generate stable, fee-based revenues due to long-term contracts with shippers [6]. Stock Performance & Valuation - ENB's stock has increased by 41.6% over the past year, compared to a 48.6% rise in the industry composite [8]. - The current trailing 12-month EV/EBITDA ratio for ENB is 17.35, which is higher than the industry average of 14.70 and exceeds ratios of major competitors like Kinder Morgan Inc. (KMI) and Enterprise Products Partners LP (EPD) [10]. Investment Thesis - The company has a C$27 billion backlog of secured capital projects, which includes various midstream growth initiatives expected to enhance cash flows and support attractive dividend payments [13]. - However, ENB faces significant regulatory scrutiny and operates with a high level of debt, which is above the industry average, presenting potential financial risks [14].

I'm about to get a big cash infusion in my portfolio. Last year, private equity giant Blackstone agreed to buy one of my holdings, Retail Opportunity Investments Corp., in an all-cash deal. That transaction should close soon. As a result of that sale, I'll lose the dividend income that the real estate investment trust (REIT) produced. That's why I plan to quickly redeploy that cash across several other income-generating investments. Among the dividend stocks I can't wait to buy are Vici Properties (VICI -0. ...

Click here for a two-week free trial , so we can help you achieve better long-term total returns and your financial dreams.Since the Trade War began on Friday, Jan. 30 (the announcement of tariffs), the S&P has been flat, the Nasdaq has been up 1%, and the Mag 7 is downHe is a founding author of the investing group The Dividend Kings which focuses on helping investors safeguard and grow their money in all market conditions through the highest-quality dividend investments. Dividend Sensei and the team of ana ...

My bullish Enbridge (NYSE: ENB ) call of November 19 feels good as the stock performs approximately in line with the growing broader equity market. Recent developments have reinforced bullish thesis, and the stock remains attractively valued, according toAs an investor who started my path five years ago with my own capital, I represent a blend of hands on experience and academic background in corporate finance. Due to my relatively young age I thrive on discovering long-duration growth opportunities and act ...

The market expects Enbridge (ENB) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 14, 2025, might help the stock move higher if these key numbers are ...

Company Performance - Enbridge closed at $43.93, reflecting a +0.48% change from the previous day, outperforming the S&P 500's gain of 0.39% [1] - Over the last month, Enbridge's shares increased by 0.18%, lagging behind the Oils-Energy sector's gain of 1.79% and the S&P 500's gain of 1.7% [1] Upcoming Earnings - Enbridge is set to release its earnings on February 14, 2025, with projected EPS of $0.52, indicating a 10.64% increase year-over-year [2] - Revenue for the upcoming quarter is estimated at $4.78 billion, reflecting a 42.87% decline compared to the same quarter last year [2] Analyst Estimates - Changes in analyst estimates for Enbridge are crucial as they reflect short-term business trends and analysts' confidence in the company's performance [3] - The Zacks Consensus EPS estimate has decreased by 1.04% over the last 30 days, and Enbridge currently holds a Zacks Rank of 3 (Hold) [5] Valuation Metrics - Enbridge has a Forward P/E ratio of 20.33, which is a premium compared to the industry's average Forward P/E of 15.4 [6] - The company has a PEG ratio of 4.07, significantly higher than the industry average PEG ratio of 2.87 [6] Industry Context - The Oil and Gas - Production and Pipelines industry, part of the Oils-Energy sector, ranks 170 in the Zacks Industry Rank, placing it in the bottom 33% of over 250 industries [7] - The top 50% rated industries outperform the bottom half by a factor of 2 to 1, indicating the competitive landscape within the industry [7]