11:45 AM EST, 02/14/2025 (MT Newswires) -- (Adds comment and updates shares.)

Enbridge ( ENB ) on Friday reported a fourth-quarter adjusted profit beat.

Adjusted earnings, excluding most one-time items, rose to $1.64 billion, or $0.75 per share, from $1.4 billion, or $0.64, in the prior year period. The result beat FactSet's consensus analyst estimate of $0.67.

Contributions from acquisitions, higher mainline system tolls and favorable contracting and lower operating costs on U.S. gas transmission assets all helped improve the results.

The company reaffirmed its 2025 guidance for adjusted EBITDA of between $19.4 billion and $20 billion.

"Enbridge's ( ENB ) operational and financial performance throughout the year helped deliver a 37% total annual return to investors and 2025 is off to a good start," said chief executive Greg Ebel. "Our low-risk business model continues to deliver predictable results and stable returns for shareholders and impacts from proposed tariffs on U.S. energy imports are not expected to be material to Enbridge's ( ENB ) financial guidance."

National Bank of Canada maintained its sector-perform rating and $63.00 price target on Enbridge ( ENB ) shares following the earnings update.

The bank expects modest changes to its long-term estimates for the company, citing its organic growth backlog of $26 billion that is largely in check.

Enbridge ( ENB ) shares were last seen down $1.68 to $62.01 on the Toronto Stock Exchange.

Price: 61.92, Change: -1.76, Percent Change: -2.76