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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.
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Also read: Scotiabank (BNS) & Tourmaline (TOU): 2 TSX dividend stocks to not miss
Enbridge stock performance
Enbridge scrip closed at C$ 51.35 apiece on Friday, January 21, almost five per cent below its 52-week high of C$ 54 (November 5, 2021). The energy infrastructure stock climbed over 16 per cent in the past 12 months.
Bottomline
Enbridge Inc is focused on promoting organic growth by modernizing assets and improving return on existing assets. The company will also embrace "low-carbon intensity opportunities" to meet the demand of domestic and export markets.
Enbridge is also excited to explore "low-carbon investment opportunities" in the future.
Also read: Suncor Energy (TSX:SU): An oil & gas stock for long-term growth?
