Is Enbridge’s (TSX:ENB) Dividend Consistency and Project Expansion Offsetting Recent Earnings Misses?

Enbridge Inc. recently reported third-quarter 2025 results, missing analyst expectations on both earnings and revenue, but reaffirmed its 2025 financial guidance and sanctioned approximately CA$3 billion of new energy infrastructure projects, including major expansions in gas transmission and crude oil transport. The Board also announced that the company's quarterly dividend of CA$0.9425 per common share will remain unchanged, underscoring Enbridge's emphasis on stability for shareholders despite recent earnings fluctuations. We'll examine how the approval of new large-scale energy projects and confirmed dividend stability could reshape Enbridge's investment narrative.

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Enbridge Investment Narrative Recap

Owning Enbridge means believing that the essential role of energy infrastructure, across oil, gas, and renewables, will reinforce the company’s consistent cash flow, even as earnings face short-term volatility from regulatory and policy pressures. The most recent quarterly results, while underwhelming on earnings and revenue, have not materially shifted the near-term focus: the key catalyst remains regulatory approval and execution of major project expansions, while the biggest risk continues to be rising capital costs and policy headwinds on legacy assets.

Among the latest announcements, the decision to maintain the common quarterly dividend at CA$0.9425 per share stands out. This directly reinforces Enbridge's messaging around stability and income reliability, which is central for those focused on dividend sustainability amid challenging earnings periods.

By contrast, one risk investors should be aware of involves the high capital spending needed to expand and maintain Enbridge’s existing pipelines, particularly as...

Read the full narrative on Enbridge (it's free!)

Enbridge's outlook anticipates CA$58.9 billion in revenue and CA$7.8 billion in earnings by 2028. This implies a 3.0% annual decline in revenue and a CA$1.6 billion increase in earnings from the current CA$6.2 billion.

Uncover how Enbridge's forecasts yield a CA$69.26 fair value, a 3% upside to its current price.

Exploring Other PerspectivesTSX:ENB Community Fair Values as at Nov 2025

Simply Wall St Community members see fair value for Enbridge ranging widely from CA$60 to CA$210.34 across 7 unique estimates. While opinions on valuation are split, many recognize that rising capital requirements could pressure future returns, reminding you to review multiple viewpoints before making any decisions.

Story Continues

Explore 7 other fair value estimates on Enbridge - why the stock might be worth 10% less than the current price!

Build Your Own Enbridge Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

A great starting point for your Enbridge research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. Our free Enbridge research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Enbridge's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ENB.TO.

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