Enbridge's (ENB, Financial) third-quarter results just hit, showing profits more than doubled thanks to strategic acquisitions and the strength of its Mainline system. Despite a minor miss on analyst expectations, the company's net income soared to C$1.29 billion, up from C$532 million last year. This jump was largely fueled by higher tolls and increased contributions from its recently acquired Gulf Coast assets, which helped Enbridge achieve a revenue surge of 51% to C$14.88 billion. Key metrics like distributable cash flow also held strong at C$2.6 billion.
Expanding aggressively yet strategically, Enbridge closed several high-profile acquisitions, including Public Service Company of North Carolina, boosting its U.S. gas utility base. In the Permian Basin, the company strengthened its gas pipeline network, creating a seamless link to growing Gulf Coast demand. Not stopping there, Enbridge is also advancing its renewable portfolio. The Sequoia Solar project, an 815 MW solar farm in Texas, is now backed by long-term power deals with AT&T and Toyota, while the final phase of Fox Squirrel Solar is underway, secured by a 20-year agreement with Amazon.
CEO Greg Ebel's outlook reinforces Enbridge as a solid play for those hunting reliable returns in today's turbulent energy market. The company reiterated its guidance, with year-end EBITDA expected to hit the high end of the C$17.7–C$18.3 billion range. With a $27 billion project backlog and stable cash flow from its four core divisions, Enbridge is positioned to capture long-term growth and continue delivering robust dividends. For investors, this means a rare combination of stability, growth, and resilience.
