- Adjusted EPS for Enbridge was C$0.58, falling short of the estimated C$0.64.
- Distributable cash flow was higher than expected, reaching C$2.86 billion against an estimate of C$2.76 billion.
- Base Business adjusted Ebitda totaled C$4.11 billion.
- Total adjusted Ebitda was C$4.34 billion, surpassing the estimate of C$4.23 billion.
- Mainline system adjusted Ebitda was C$1.32 billion, above the estimate of C$1.27 billion.
- Regional Oil Sands System adjusted Ebitda was C$243 million, exceeding the estimate of C$235.9 million.
- Gulf Coast and Mid-Continent System adjusted Ebitda was C$436 million, below the estimate of C$445.4 million.
- Other adjusted Ebitda came in at C$460 million, higher than the estimate of C$379.2 million.
- Cash from operating activities was C$2.81 billion, falling short of the estimate of C$3.23 billion.
- Full year adjusted EBITDA guidance has been increased to a range of $17.7 billion to $18.3 billion.
- Distributable cash flow per share remains unchanged at $5.40 to $5.80.
- Enbridge reaffirmed its near-term growth outlook for 2023 to 2026, projecting 7-9% adjusted EBITDA growth, 4-6% adjusted EPS growth, and approximately 3% DCF per share growth.
- The Seven Stars Energy project, a collaboration between Enbridge and Indigenous communities, developed a 200 MW wind farm in Saskatchewan.
- The Liquids and Renewable Power teams at Enbridge are strengthening existing relationships and creating new opportunities.
- High utilization across all systems was driven by the need for reliable and affordable energy during the quarter.
- Analyst ratings include 12 buys, 7 holds, and 2 sells.
A look at Enbridge Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Enbridge Inc. operates as an energy delivery company, with a focus on crude oil and liquids pipeline systems, natural gas transmission, and midstream businesses in Canada. Looking at its Smartkarma Smart Scores, Enbridge scores highly in areas such as Dividend and Momentum, indicating strong performance in these aspects. With a solid Dividend score of 5, Enbridge is expected to provide stable and attractive dividend payouts to investors. Additionally, its Momentum score of 4 suggests that the company has been showing positive performance trends that may continue in the future.
However, Enbridge does not score as high in Resilience, with a score of 2, which implies that the company may face some challenges in this area. While its Value and Growth scores are moderate at 3, indicating average performance concerning these factors. Considering these scores, investors may view Enbridge as a reliable investment option for steady dividends and potential growth, despite some resilience concerns that the company needs to address in the long term.
Disclaimer: This article by Smartkarma is general in nature and 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. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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