Episode Details
Back to EpisodesEnbridge (ENB) earnings: Meta, AI power, and the "full flight" oil trade
Published 5 months, 2 weeks ago
Description
Enbridge is rebranding from a boring utility to the backbone of the AI internet, securing direct deals with hyperscalers while its legacy oil pipes remain physically maxed out.
In ~10 minutes:
- Why the Mainline was "oversubscribed" for 9 months
- New deals with Meta & the "colorblind" electron strategy
- The "voracious" demand for Gulf Coast gas storage
- Breaking down the $39B secured backlog
Management shrugged off Venezuelan crude risks, proving Canadian heavy oil has a "sticky" hold on Gulf Coast refiners. The stock recovered from early chop to close near highs as the market digested the defensive growth pivot.
Enbridge, Inc. (ENB) | Q4 FY2025
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