Enbridge
Connects North American energy markets through pipelines, gas utilities, storage, and renewable power.
Something off on this page? Send us feedback.
Profile
Transports crude oil and natural gas across North America, supplies regulated gas utility customers, and owns renewable power assets. Long-lived cross-border networks generate contract- and regulation-backed revenue, while reliability, integrity programs, permits, and court proceedings shape operations.
Moves crude oil and natural gas across North America through long-lived pipeline, terminal, storage, and processing networks. Liquids Pipelines links Canadian production with refining markets, while Gas Transmission, Midstream and LNG connects producing basins with utilities and export facilities.
Supplies regulated natural gas through utility systems in Canada and the United States, and owns renewable power assets. The portfolio broadened materially through the Spectra Energy combination and the acquisition of three U.S. gas utilities.
Execution depends on operating reliability, integrity programs, regulatory approvals, contracts, and sustained capital investment. Cross-border corridors expose projects and existing lines to court orders, permits, Indigenous-rights disputes, and environmental enforcement; Line 5 remains subject to unresolved legal and permitting proceedings.
Company facts
Key statistics
Year to date +4.3% · Average volume (30d) 4.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Aug 27, 2026 | CIBC | Upgrade | Neutral | Outperform | |
| Aug 4, 2026 | Wolfe Research | Target | $50 | ||
| Jul 31, 2026 | Raymond James | Downgrade | Market Perform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $0.43 | $0.46 | +7.0% | $8.67B | $15.36B | +77.2% | −1.75% |
| May 8, 2026Q1 FY26 | $0.69 | $0.71 | +2.9% | $9.70B | $16.07B | +65.7% | +1.62% |
| Feb 13, 2026Q4 FY25 | $0.60 | $0.63 | +5.0% | $6.16B | $12.51B | +103.0% | −4.53% |
| Nov 7, 2025Q3 FY25 | $0.39 | $0.33 | −15.4% | $9.08B | $14.64B | +61.2% | +0.44% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $13.31B | $10.70B | $10.53B | $12.36B | $22.50B | $21.09B | |
| Gross profit | $4.42B | $3.55B | $3.42B | $4.08B | $6.20B | $4.82B | |
| Operating income | $2.64B | $1.65B | $1.63B | $1.96B | $3.65B | $2.09B | |
| Net income | $1.70B | $1.64B | $566.8M | $1.48B | $1.76B | $1.08B | |
| Diluted EPS | $0.74 | $0.72 | $0.22 | $0.64 | $0.76 | $0.46 | |
| Gross margin | 33.2% | 33.1% | 32.5% | 33.0% | 27.6% | 22.9% | |
| Operating margin | 19.8% | 15.4% | 15.5% | 15.9% | 16.2% | 9.9% |
Fiscal years (4-quarter sums)FY21 $33.86B · FY22 $38.35B · FY23 $31.40B · FY24 $38.47B · FY25 $46.90B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $2.06B · Total debt $80.66B · Total assets $166.63B · Shareholders' equity $47.01B
Dividends
Raised for 2 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Sep 1 | $0.6992 | cut from $0.7054 |
| May 15, 2026 | May 15 | Jun 1 | $0.7054 | cut from $0.7088 |
| Feb 17, 2026 | Feb 17 | Mar 1 | $0.7088 | raised from $0.6719 |
| Nov 14, 2025 | Nov 14 | Dec 1 | $0.6719 | cut from $0.6825 |
| Aug 15, 2025 | Aug 15 | Sep 1 | $0.6825 | raised from $0.6737 |
| May 15, 2025 | May 15 | Jun 1 | $0.6737 | raised from $0.6653 |
| Feb 14, 2025 | Feb 14 | Mar 1 | $0.6653 | raised from $0.6499 |
| Nov 15, 2024 | Nov 15 | Dec 1 | $0.6499 | cut from $0.6678 |
Ownership
Shares outstanding 2.18B · Float 2.18B · 99.8% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 115.74M | 5.30% | 13D/G | Nov 8, 2024 |
| Royal Bank of Canada | 108.39M | 4.96% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 62.78M | 2.88% | 13F | Aug 13, 2026 |
| Bank of Montreal /Can/ | 61.49M | 2.82% | 13F | Aug 12, 2026 |
| GQG Partners LLC | 49.08M | 2.25% | 13F | Aug 12, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Kinder Morgan
Broad overlap in gas transmission, liquids pipelines, storage, and terminals
- TC Energy
Closest Canadian peer in continent-scale natural gas transportation
- Energy Transfer
Diversified rival across gas, crude, NGL, storage, and export infrastructure
- South Bow
Direct crude-pipeline rival from Western Canada to U.S. refining markets
- Williams
Natural gas specialist spanning transmission, gathering, and Gulf infrastructure
- Pembina Pipeline
WCSB rival in pipelines, processing, fractionation, and export logistics
- Enterprise Products Partners
Gulf Coast rival in crude, natural gas, NGL, and export logistics
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Enbridge | $50.26 | +0.12% | $109.62B | 24.2 | 23.4 | 1.6 | +41.2% |
| Kinder Morgan | $31.50 | −0.16% | $70.28B | 20.2 | 21.2 | 3.9 | +10.8% |
| TC Energy | $61.70 | −0.23% | $64.40B | 25.7 | 23.9 | 5.6 | +1.9% |
| Energy Transfer | $21.34 | +0.12% | $73.33B | 13.2 | 12.9 | 0.7 | +78.4% |
| South Bow | $37.80 | +0.99% | $7.81B | 18.0 | 20.5 | 4.1 | +4.2% |
| Williams | $74.47 | +1.02% | $90.18B | 29.3 | 30.4 | 7.4 | +10.2% |
| Pembina Pipeline | $48.15 | +0.33% | $27.91B | 23.6 | 22.7 | 4.9 | −17.9% |
| Enterprise Products Partners | $39.00 | −0.04% | $84.42B | 13.5 | 12.8 | 1.4 | +60.8% |
| Median | 20.2 | 21.2 | 4.1 | +10.2% |