Enbridge (TSX:ENB): An energy stock to buy in 2022?

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Enbridge (TSX:ENB): An energy stock to buy in 2022?

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Enbridge (TSX:ENB): An energy stock to buy in 2022
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Highlights

  • Enbridge Inc (TSX:ENB) is trending on the stock markets ahead of its fourth-quarter results for the fiscal year 2021, scheduled to release on February 11.
  • Stocks of Enbridge Inc slipped by almost two per cent on Friday, January 21, with a trading volume of 10 million shares.
  • Enbridge also hiked its dividend to C$ 0.86 apiece, payable on March 1, up from the previous pay-out of C$ 0.835.

Enbridge Inc (TSX:ENB) is trending in the stock markets ahead of its fourth-quarter results for the fiscal year 2021, scheduled to release on February 11.

Stocks of Enbridge Inc slipped by almost two per cent on Friday, January 21, with a trading volume of 10 million shares.

The Calgary, Alberta-headquartered energy firm leverages its infrastructural assets in the United States and Canada to transport hydrocarbons.

Let us talk more about Enbridge its financial and stock performance.

Enbridge (TSX: ENB) financial performance in Q3 FY2021

Based on Generally Accepted Accounting Principles (GAAP), the midstream energy company generated earnings of C$ 682 million in Q3 FY2021 compared to C$ 990 million a year ago.

The energy supplier posted a distributable cash flow of C$ 2.3 billion in the latest quarter, up from C$ 2.1 billion in Q3 2020.

On December 7, 2021, the company also announced financial guidance for fiscal 2022. It expects EBITDA to be somewhere between C$ 15 million to C$ 15.6 million. The company expects its distributable cash flow (per share) to range between C$ 5.20 to C$ 5.50.

Enbridge also hiked its quarterly dividend to C$ 0.86 apiece, payable on March 1, up from the previous payout of C$ 0.835.