The Calgary-based concern, one of North America's biggest pipeline operators, said the quarterly earnings amounted to 10 cents per diluted per share. In the final quarter of 2013, it posted a net loss of $267 million or 33 cents per share.
Revenue rose to almost $8.8 billion from $8.29 billion, the company said in its earnings report, issued after markets closed.
Adjusted earnings in the quarter were $409 million or 49 cent a share, compared with $362 million or 44 cents per share in the prior-year period.
For the full year, Enbridge posted net earnings of $1.15 billion or $1.37 per diluted share, versus $446 million or 55 cents in 2013.
Adjusted earnings for 2014 were $1.57 billion or $1.90 per share, up from $1.43 billion or $1.78 per share.
Enbridge said its "solid 2014 performance" reflected the strength of its existing businesses and the successful execution of its ongoing growth capital program.
"The most significant contributions to year-over-year earnings came from the Liquids Pipelines and Sponsored Investments segments," it added.
President and CEO Al Monaco described 2014 as "a successful year on many fronts," noting the company had put $10 billion in capital projects into service and that it expected to complete an additional $9 billion in 2015.
"With the strength of our business model and this large inventory of growth projects, we remain confident in our ability to deliver an anticipated average annual adjusted earnings per share growth rate of 10-12 per cent through 2018 before consideration of the impact of the proposed restructuring that we announced late last year," Monaco added.
In December, Enbridge announced plans to transfer the majority of its Canadian liquids pipelines business and certain renewable energy assets to Enbridge Income Fund with a combined carrying value of $17 billion.
Enbridge is also reviewing a potential transfer of its interest in United States liquids pipelines assets to Enbridge Energy Partners L.P., "although the review of this transaction has not progressed to a conclusion, the company said.
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