• Enbridge’s adjusted EPS for Q1 surpassed estimates, being C$0.92 compared to estimations of C$0.82.
• Their distributable cash flow came in at C$3.46 billion, above the estimated C$3.12 billion.
• The Mainline system’s adjusted Ebitda was C$1.34 billion, which is higher than the C$1.31 billion prediction.
• Regional Oil Sands System’s adjusted Ebitda stood at C$227 million, slightly less than the estimated C$235.1 million.
• Gulf Coast and Mid-Continent System’s adjusted Ebitda was C$427 million, compared an estimate of C$444.9 million.
• Other adjusted Ebitda came in at C$468 million, surpassing the C$368.3 million estimate.
• Cash from operating activities was C$3.15 billion, slightly below the C$3.31 billion estimated.
• The company reaffirmed its full year financial guidance for 2024 and reaffirmed its medium-term outlook.
• The renewable sector saw a 100% increase in EBITDA due to acquiring additional interest in German offshore wind farms, the generation of Investment Tax Credits from Fox Squirrel, and strong European wind resources.
• In Gas Distribution, continued customer growth is expected, despite significantly warmer weather in Ontario during the quarter.
• As per the company’s comments, the need for safe, reliable, and affordable energy led to high utilization across Enbridge’s operations.
• Enbridge restated its commitment to delivering long-term shareholder returns, supported by stable, diversified, utility-like earnings.
• With regards to the company’s assessment, there were 13 buys, 8 holds, and 2 sells recorded.
A look at Enbridge Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.6 |
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., an energy delivery company operating in Canada, is poised for a promising long-term outlook based on its Smartkarma Smart Scores. With a strong dividend score of 5, investors can expect attractive returns through consistent dividend payouts. The company’s growth score of 4 indicates a positive trajectory for expansion and revenue generation opportunities in the future. Furthermore, Enbridge’s momentum score of 4 suggests it has the potential to capitalize on market trends and enhance shareholder value. While the resilience score of 2 indicates some room for improvement, overall, Enbridge presents a compelling profile for investors seeking stability and growth within the energy sector.
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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