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Investing.com - Enbridge (NYSE:ENB) Inc reported fourth quarter earnings on Friday that surpassed analyst expectations, while reaffirming its financial outlook for 2025.
The Canadian energy infrastructure company posted adjusted earnings per share of C$0.75, beating the consensus estimate of C$0.74.
For the full year 2024, Enbridge reported adjusted earnings of C$6.0 billion or C$2.80 per share, compared to C$5.7 billion or C$2.79 per share in 2023. The company's adjusted EBITDA rose 13% YoY to C$18.6 billion, while distributable cash flow increased 6% to C$12.0 billion.
Enbridge reaffirmed its 2025 financial guidance, projecting adjusted EBITDA between C$19.4 billion and C$20.0 billion and distributable cash flow per share between C$5.50 and C$5.90.
The company expects growth to be driven by contributions from recent acquisitions, newly completed projects, and a rate settlement for Texas Eastern Transmission.
The company increased its quarterly dividend by 3% to C$0.9425 per share, payable on March 1, 2025. Enbridge also reaffirmed its 2023-2026 outlook, targeting 7-9% adjusted EBITDA growth, 4-6% adjusted EPS growth, and approximately 3% DCF per share growth.
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