Enbridge Stock Is Trending Higher Today: What's Happening?

Enbridge Inc (NYSE:ENB) shares are trading higher on Friday. The pipeline operator posted fourth‑quarter results before the bell that topped expectations on both revenue and earnings.

• Enbridge stock is challenging resistance. Why are ENB shares at highs?

What The Numbers Showed

Adjusted EPS came in at 63 cents, ahead of the 60 cent estimate, while revenue of $12.32 billion beat the $11.75 billion consensus. For the full year, adjusted EBITDA reached $20.0 billion, up 7% from 2024, and distributable cash flow rose 4% to $12.5 billion.

The company has now hit or exceeded its financial guidance for 20 straight years, a streak President and CEO Greg Ebel said reflects Enbridge's "low‑risk commercial framework delivering predictable results amid macroeconomic uncertainty."

Dividend Hike And Reaffirmed Outlook

Enbridge also raised its quarterly dividend by 3% to 97 cents per share (or $3.88 annualized), marking its 31st consecutive annual increase.

The company reaffirmed its 2026 outlook, calling for adjusted EBITDA of $20.2 billion to $20.8 billion and DCF per share of $5.70 to $6.10. Beyond 2026, Enbridge expects EBITDA, EPS and DCF per share to grow about 5% annually.

Enbridge also had an active year on the growth front. The company placed $5 billion worth of organic projects into service in 2025 and approved $14 billion in new projects, lifting its secured backlog to $39 billion — roughly 35% higher than at its last Enbridge Day.

Analyst Targets Continue To Trend Higher

Enbridge has seen a consistent upward trajectory in recent analyst target prices. In the most recent action on Nov. 10, RBC Capital maintained its ‘Outperform' rating and increased the target price from $67 to $72. Prior to this, Argus Research echoed a positive outlook in August, retaining its ‘Buy’ rating and setting a target price at $54, a jump from the previous $50.

Earlier in the year, RBC Capital reiterated its ‘Outperform’ rating twice for Enbridge, first in May with a target price of $67 and then in February, setting the target at the same price but up from a prior $63. The firm had also affirmed an ‘Outperform’ rating in December of the previous year, with a target price of $63, marking a rise from the earlier $59.

ENB Price Action: Enbridge shares were up 1.85% at $52.80 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro.

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