Enbridge Reaffirms C$5.70–6.10 DCF, C$20.2–20.8B EBITDA Guidance and Raises Dividend 3%
Enbridge reaffirmed FY26 DCF guidance at C$5.70-6.10 per share and adjusted EBITDA guidance of C$20.2-20.8 billion, while Q4 adjusted EPS of C$0.88 topped analysts’ C$0.78 estimate. The board declared a 3 percent dividend increase to C$0.97 per share payable March 1, and net earnings rose to C$0.89.
1. FY26 Guidance Reaffirmed
Enbridge reaffirmed its full-year 2026 distributable cash flow guidance at C$5.70 to C$6.10 per share and adjusted EBITDA guidance at C$20.2 to C$20.8 billion, maintaining targets set in prior outlook.
2. Fourth-Quarter Results
For Q4, net earnings attributable to shareholders reached C$1.95 billion or C$0.89 per share, compared with C$493 million or C$0.23 in the year-ago quarter. Excluding items, adjusted EPS was C$0.88 versus C$0.75 a year earlier and above the C$0.78 Street estimate.
3. Dividend Increase
The board approved a 3 percent quarterly dividend increase, raising the payout to C$0.97 per common share with a record date of February 17 and payable on March 1, 2026.
4. Growth Outlook
Enbridge reiterated its near-term 2023–2026 growth targets of 7–9 percent adjusted EBITDA, 4–6 percent adjusted EPS and approximately 3 percent DCF per share. Post-2026, all three metrics are expected to grow by about 5 percent annually.