Enbridge and TC Energy Hit All-Time Highs Following Strong Q4 Earnings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Source: seekingalpha
- Enbridge Earnings Surge: Enbridge (ENB) reported a Q4 net profit of C$1.95 billion (approximately US$1.43 billion), a significant increase from C$493 million in the previous year, indicating a strong enhancement in profitability that is likely to drive stock prices higher.
- EBITDA Exceeds Expectations: The company's adjusted EBITDA reached C$5.21 billion, surpassing the market consensus of C$5.14 billion, reflecting robust performance in pipeline operations and bolstering investor confidence.
- Strong Project Backlog: Enbridge currently holds a project backlog worth approximately C$39 billion, with about C$8 billion expected to come online this year, providing substantial support for future revenue growth and solidifying its market position.
- TC Energy Dividend Increase: TC Energy (TRP) reported a Q4 net income of C$980 million, consistent with the previous year, while raising its quarterly dividend by 3.2%, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns, which enhances market confidence in its long-term growth prospects.
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Analyst Views on ENB
Wall Street analysts forecast ENB stock price to rise
10 Analyst Rating
5 Buy
5 Hold
0 Sell
Moderate Buy
Current: 50.890
Low
45.79
Averages
53.54
High
69.00
Current: 50.890
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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