Enbridge Reports Strong Q4 2025 Results and 2026 Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 13 2026
0mins
Source: PRnewswire
Enbridge Inc. shares fell 5.00% as the stock crossed below its 5-day SMA amid broader market declines, with the Nasdaq-100 down 0.72% and the S&P 500 down 0.24%.
Despite the stock's decline, Enbridge reported a GAAP net income of CAD 1.952 billion for Q4 2025, an increase of CAD 150 million compared to Q4 2024, driven by strong performance in oil and gas transportation. The company also secured CAD 14 billion in new projects, raising its total project backlog to CAD 39 billion, which positions it well for future growth.
The strong financial results and project expansions indicate that Enbridge is maintaining a solid market position, even as its stock experiences short-term volatility. The company's commitment to dividend growth and strategic investments in renewable energy further enhance its appeal to investors.
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Analyst Views on ENB
Wall Street analysts forecast ENB stock price to fall
10 Analyst Rating
5 Buy
5 Hold
0 Sell
Moderate Buy
Current: 55.560
Low
45.79
Averages
53.54
High
69.00
Current: 55.560
Low
45.79
Averages
53.54
High
69.00
About ENB
Enbridge Inc. is an energy transportation and distribution company. The Company's segments include Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation. Liquids Pipelines consists of pipelines and terminals in Canada and United States that transport and export various grades of crude oil and other liquid hydrocarbons, including the Mainline System, Regional Oil Sands System, Gulf Coast and Mid-Continent, and Other. Gas Transmission consists of its investments in natural gas pipelines and gathering and processing facilities in Canada and United States, including United States Gas Transmission, Canadian Gas Transmission, United States Midstream, and Other. Gas Distribution and Storage consists of its rate-regulated natural gas utility operations in Canada and United States. Renewable Power Generation consists primarily of investments in wind and solar assets, as well as equity interests in geothermal power and power transmission assets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Dividend Stability: Consolidated Edison, a Dividend King, has increased its dividend for 52 consecutive years, reporting over $2 billion in net income for 2025, demonstrating strong cash flow and profitability, and is expected to maintain a 3.3% dividend yield.
- Diverse Energy Strategy: Enbridge employs an 'all-of-the-above' energy supply strategy and has increased dividends for 31 years, with projected GAAP earnings of CA$7 billion (approximately $5 billion) in 2025, supporting its 4.8% dividend yield through robust earnings.
- Midstream Service Advantage: Enterprise Products Partners operates over 50,000 miles of pipeline, with the global natural gas market expected to grow from $895 billion in 2025 to over $1 trillion by 2033, underpinning its 27 consecutive years of dividend increases.
- High Dividend Yield: Enterprise's dividend yield stands at 5.5%, and despite sustainability concerns typical in the energy sector, it reported net incomes of $5.9 billion in 2024 and $5.8 billion in 2025, indicating stable profitability.
See More
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- Stable Dividend Growth: Consolidated Edison, a regulated utility operator, has increased its dividend for 52 consecutive years, currently yielding 3.3%, with net income exceeding $2 billion in 2025, demonstrating strong cash flow and profitability.
- Diverse Energy Strategy: Enbridge employs an 'all-of-the-above energy supply' approach, having raised its dividend for 31 years, with a current yield of 4.8% and GAAP earnings of CA$7 billion in 2025, indicating robust capacity to meet rising energy demands.
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See More
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- Global Oil Inventory Decline: The ongoing geopolitical conflict in the Middle East has driven global oil inventories to an 11-year low, and it is anticipated that a return to normalcy in the market could take months post-conflict, creating significant uncertainty for investors.
- Price Volatility Impact: Despite fluctuations in oil prices driven by geopolitical news, industry insiders warn that the full impact of the conflict is not yet reflected in oil prices, suggesting that investors should approach this market dynamic with caution.
- Enterprise Products Partners and Enbridge: These companies offer dividend yields of 5.5% and 4.8%, respectively, and their financial performance is primarily driven by oil and gas demand rather than oil price volatility, demonstrating stability in an uncertain market.
- North American Market Advantage: With operations based in North America, far from the Middle East conflict, Enterprise Products Partners and Enbridge may benefit in the future as other countries reconsider energy security, potentially increasing their business attractiveness.
See More
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- Global Oil Reserve Status: Global oil reserves have fallen to an 11-year low, with the ongoing geopolitical conflict further eroding this safety cushion, potentially leading to increased oil price volatility that could undermine investor confidence and market stability.
- Investor Sentiment Impact: Despite fluctuations in oil prices due to the Middle East conflict, industry insiders warn that the market is not fully reflecting the conflict's impact on oil prices, urging investors to approach energy stocks with caution to avoid risks associated with emotional decision-making.
- Midstream Companies' Stability: Midstream firms like Enterprise Products Partners and Enbridge have increased dividends annually for decades, offering yields of 5.5% and 4.8%, respectively, indicating that their financial performance is primarily driven by oil and gas demand rather than oil price fluctuations.
- Geographical Advantage: Operating in North America, far from the Middle East conflict, these companies may benefit in the long term as the conflict could prompt countries to rethink energy security and increase oil purchases from the U.S. and Canada, potentially leading to more business opportunities for Enterprise and Enbridge.
See More
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- AI Data Center Growth: The surge in demand for uninterrupted power from AI data centers has led to at least a 19% increase in stock prices for midstream energy companies like Enterprise Products Partners, Enbridge, and Energy Transfer, reflecting strong market demand and investor confidence.
- Attractive Dividends: Enterprise Products Partners has raised its dividend for 28 consecutive years, with a 2.8% increase this year to $0.55 per quarter, resulting in a current yield of approximately 5.58%, showcasing its robust cash flow coverage.
- Stable Financial Model: All three companies utilize a toll-road financial model, with 85% to 98% of cash flows derived from long-term contracts, ensuring stable revenue in inflationary environments; Enterprise Products Partners and Energy Transfer maintain distribution coverage ratios of about 1.7 to 1.8, providing ample free cash flow for new project investments.
- Energy Transfer's Expansion Potential: Among the three, Energy Transfer stands out due to its favorable valuation and highest dividend yield, with an aggressive expansion strategy aimed at capturing the AI data center boom, presenting strong growth potential despite certain risks, making it a prime investment choice currently.
See More
Midstream Energy Companies Show Significant Dividend Growth
- Dividend Growth Trend: Enterprise Products Partners has raised its dividend for 28 consecutive years, with a 2.8% increase this year to $0.55 per quarter, resulting in a current yield of 5.58%, indicating strong cash flow coverage and potential for future increases.
- Strong Performance: In Q1 2026, Enterprise Products Partners reported adjusted EBITDA of $2.7 billion, a 10% year-over-year increase, driven by record natural gas liquids production, with DCF rising 34.5% compared to the same quarter last year, further solidifying its market position.
- Impact of Energy Transition: The rise of data centers and AI is driving growth for midstream companies like Enbridge and Energy Transfer, the latter boasting a dividend yield of 6.6% and having consistently raised its distribution for 18 consecutive quarters, showcasing its competitive edge in the market.
- Optimistic Market Outlook: Despite potential oil price fluctuations affecting midstream pipeline volumes, the long-term contract-based fee model of all three companies demonstrates strong financial resilience, with expectations to continue benefiting from the demand generated by AI data centers.
See More
