Enbridge Price Target Lifted to C$77 After Q4 Profit Quadruples to C$1.95 B
Citi raised Enbridge’s price target to C$77 after Q4 net profit quadrupled to C$1.95 billion. The company expects 2026 EBITDA of US$20.2–20.8 billion, DCF per share of US$5.70–6.10 and has a C$39 billion project backlog with C$8 billion of assets coming online this year.
1. Price Target Increase
On February 19, Citi lifted its Enbridge price target from C$75 to C$77 while reaffirming a Buy rating, implying over 7% upside from prevailing levels.
2. Q4 Financial Performance
In Q4 2025 Enbridge reported net profit of C$1.95 billion, up from C$493 million a year earlier, and exceeded both earnings and revenue estimates, driven by strong pipeline throughput and tariff stability.
3. Project Backlog and Growth Outlook
The midstream operator closed FY2025 with a C$39 billion project backlog, of which C$8 billion of new assets are slated to begin service this year, underpinning its forecasted 5% growth through 2030.
4. 2026 Financial Guidance
For FY2026 Enbridge projects EBITDA between US$20.2 billion and US$20.8 billion and DCF per share of US$5.70–6.10, reflecting confidence in cash flow generation and dividend coverage.