Skip to content
AnalystLens

ENBRIDGE INCENB

Sector
Energy
Industry
Pipe Lines (No Natural Gas)
Exchange
NYSE

Stock Price $ENB

Latest filings

You are here#7 of 25 in Energy by market cap

Filing record · 2016–202610-K1810-Q268-K238

ENB filed 18 annual reports (10-K), 26 quarterly reports (10-Q) and 238 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Leadership change8-K · Jan ’22Jan ’22
  3. Leadership change8-K · Oct ’25Oct ’25

01—Key figures

Financial Performance

No financial data available.

All ENB Financial Metrics7 metrics

Balance Sheet1

Cash Flow3

Per Share3

02—Overview

ENBRIDGE INC Financial Overview 2021–2025

Updated Jul 10, 2026

Enbridge’s $14.1 billiona acquisition of three major US gas utilities fundamentally reshaped its operational scale, creating North America's largest natural gas utility platform. This aggressive diversification anchors the core investment thesis: the company is successfully trading pure-play pipeline risk for highly regulated, utility-like cash flow stability. The strategy paid immediate financial dividends, with earnings attributable to common shareholders surging to $7.07 billion—or $3.23 per share—in FY2025, up significantly from $5.05 billion in FY2024.

This utility expansion pairs with a $39 billionb secured capital backlog extending through 2033 to support steady shareholder returns. The company's commitment to returning capital is deeply entrenched; its track record of dividend hikes evolved from 27 consecutive years in FY2021 to 31 consecutive years in FY2025, reaching an annualized payout of $3.88 per share following a 3% increase. While the company absorbed a $2.5 billion goodwill impairment in FY2022 and navigated persistent derivative fair value volatility—such as a $743 million non-cash loss in Q1 2026—underlying cash generation remained fortified by extensive tolling settlements across its mainline systems. By the close of FY2025, the market valued this diversified infrastructure network at a $104.4 billion market cap, with shares priced at $47.83, representing a valuation multiple of 14.8x earnings.

Recent Developments (Q4 2025 and Q1 2026)

Enbridge closed FY2025 with record adjusted EBITDA of $19.95 billionc and placed over $5 billion of capital into service. Operational momentum slowed in Q1 2026. Total segment EBITDA declined to $5,020 million from $5,929 million year-over-year. First-quarter net income dropped to $1,671 million, or $0.77 per share, down from $2,261 million, or $1.04 per share. Lower mainline tolls pressured results. Concurrently, Enbridge secured a 12.5% equity investment from 38 First Nations groups in its Westcoast system. It also issued US$2 billion in senior notes, maintaining strong liquidity of $12.7 billion.

Bulls highlight $14 billiond in newly sanctioned organic projects expanding long-term cash visibility. Conversely, bears warn that shrinking margins in the Liquids Pipelines and Renewable Power segments signal operational strain. The stock trades at 18.1x trailing earnings as of the May 8, 2026 reporting date.

What to watch: ongoing impacts of earnings sharing mechanisms on liquid pipelines; utilization of the reconfirmed Shareholder Rights Plan.

03—Filings

Recent SEC Filings

  1. 8-KENBRIDGE INC 8-K Report, Corporate Update (Sep 14, 2026)Enbridge Inc. (ENB) announced on September 14, 2026, the successful completion of a public offering of 44,735,000 common shares, including the full exercise of an over-allotment option. The offering, structured as a "bought deal" with a syndicate led by RBC Dominion Securities Inc. and CIBC World Market Inc., generated approximately CDN$3.0 billion in gross proceeds. These proceeds will be utilized by the company, although specific use cases are not detailed in this 8-K filing. The shares were offered at CDN$66.85 per share, with the transaction being made under an effective shelf registration statement filed with the SEC. This significant capital raise indicates Enbridge's strategic initiative to bolster its financial position, likely to fund ongoing operations, capital expenditures, or potential acquisitions. Investors should note the "bought deal" nature of the offering, which assures Enbridge of the capital raised. The filing also confirms the completion of the sale and provides details on the underwriting agreement and related legal opinions, all incorporated by reference.
  2. 8-KENBRIDGE INC 8-K Report, Regulation FD Disclosure (Sep 9, 2026)Enbridge Inc. (ENB) has filed an 8-K report on September 9, 2026, to disclose a "bought-deal" offering of its common shares. This offering is intended to raise capital, though the specific use of proceeds is not detailed in the 8-K itself but is referenced as being outlined in the accompanying news release (Exhibit 99.1). Investors should note that this filing primarily serves as a disclosure mechanism for the share offering and contains forward-looking statements regarding the closing of the offering and its use. The company cautions that actual results may differ materially due to various risks and uncertainties, and it does not undertake an obligation to update these statements publicly. The information furnished under Item 7.01 is for disclosure purposes and is not considered "filed" for liability purposes under Section 18 of the Exchange Act.
  3. 8-KENBRIDGE INC 8-K Report, Regulation FD Disclosure (Sep 9, 2026)Enbridge Inc. (ENB) has filed an 8-K report on September 9, 2026, to announce a significant development: the entry into a definitive agreement to acquire the crude oil transportation, gathering, storage, and terminaling assets of Tallgrass Energy. This strategic move is poised to expand Enbridge's footprint in the North American energy infrastructure landscape. The filing also incorporates by reference a news release detailing this acquisition. While specific financial terms are not disclosed in this particular filing, the announcement signals a key growth initiative for Enbridge. Investors should closely monitor future filings for details on the transaction's financial implications, including purchase price, financing structure, and expected synergies. The company has also included a comprehensive "Forward-Looking Information" section, outlining numerous assumptions, risks, and uncertainties that could impact the completion and success of this acquisition and other ongoing projects.
  4. 8-KENBRIDGE INC 8-K Report, Executive Changes (Sep 8, 2026)Enbridge Inc. (ENB) has announced a significant leadership transition. Effective December 31, 2026, current President and CEO Greg Ebel will retire after a distinguished tenure, stepping down from his role and the Board of Directors. Mr. Ebel's departure is attributed to personal reasons and is not indicative of any disagreements with the company's operations or policies. He will provide advisory support during a transition period through May 2027, ensuring continuity and a smooth handover. To lead Enbridge into its next chapter, the Board has appointed Michele Harradence as the new President and CEO, effective January 1, 2027. Ms. Harradence, currently Executive Vice President and President of Gas Distribution and Storage, brings extensive experience, having led Enbridge's gas utilities since 2022 and previously holding senior operational roles. Her appointment signifies a continued focus on strategic growth and operational excellence within the company.
  5. 8-KENBRIDGE INC 8-K Report, Financial Results (Jul 31, 2026)Enbridge Inc. (ENB) has filed an 8-K report on July 31, 2026, to announce its financial results for the second quarter ended June 30, 2026. The core of this filing is the press release (Exhibit 99.1) detailing these results. Investors should note that, as per the filing, this information is furnished and not considered 'filed' under Section 18 of the Securities Exchange Act of 1934. Consequently, it will not be automatically incorporated into any previous or future registration statements under the Securities Act of 1933. While the specific financial figures and operational details are contained within the attached press release, this 8-K serves as the official notification of their release. Investors and analysts will need to refer to Exhibit 99.1 for comprehensive information regarding Enbridge's performance in the second quarter of 2026, including key metrics like revenue, earnings, and any forward-looking guidance or strategic updates provided by the company.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.