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TSE:ENB

Enbridge (ENB.TO)

78.88
+0.03 (0.04%)
as of Jun 11, 2026, 8:00:00 pm Market Open.
2692 watching
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Investor Insights
star iconJun 11, 2026, 12:00 am

This summary was created by AI, based on 39 opinions in the last 12 months.

Enbridge (ENB) is recognized as a leading energy infrastructure company, largely driven by its extensive pipeline network that transports significant volumes of crude oil and natural gas across North America. Experts appreciate its reliable dividend, historically around 5-6%, which is viewed as a sustainable income stream providing growth potential through cash flow generation. The company benefits from the ongoing energy demand and capital spending in the sector, with many analysts highlighting its defensive nature amidst market volatility. While there are mixed opinions about its current valuation and growth prospects, most see it as a solid long-term hold, particularly due to its strategic positioning in the LNG market and the increasing importance of Canadian energy supplies amid geopolitical tensions.

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Consensus
Buy
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Valuation
Fair Value
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TOP PICK
An income play. The dividend is above 8%, but safe. They've sold assets and paid down debt to shore up the balance sheet (after a big acquisition years ago). They have a 7x debt-to-operating cash flow ratio. They move nearly 25% of all oil and gas volumes in North America that will endure. They're volume-, not oil price-sensitive, so won't suffer plunges in the oil price. ENB will see stable growth and will pay you that income. (Analysts’ price target is $52.42)
BUY
Incredibly high dividend of 8.4%, which is sometimes a signal of trouble. Payout ratio pretty stable around 71%. Trading at a compelling 13.3x 2021 PE. Improved balance sheet. Volumes back to pre-Covid levels. Decent 7% EPS growth. Risks on Lines 3 and 5. On balance, nice risk/reward at these levels.
BUY ON WEAKNESS
Utilities are going to do relatively well for the next few years. The problem is the cost of money. If it goes up with inflation, it could hurt interest rate sensitive utilities. As long as interest rates remain low, they should do well.
DON'T BUY
A lot of people own it for the dividend, and the track record until earlier this year has been incredible. They made a number of acquisitions and capital expenditures right before the crisis. The dividend yield is very high and the market is expecting a dividend cut. Management is saying the dividend will continue to grow.
BUY
High dividend, not an outrageous payout ratio, and yet is a regulated utility. He would be surprised to see a cut in its dividend. The dividend should be secure.
HOLD
Below $40, it is an opportunity. The dividend should be safe, with the Line 3 project coming to term, bringing cashflow on a long term basis. Demand long term will probably trend down, but there won't be any new pipelines built. There is still a lot of value and cashflow to be produced.
DON'T BUY

Owns legacy position. Hasn't bought in 10 years. Their program of building, acquiring, boosting the dividend, and then raising money was unsustainable. Concerns about oil volumes they can shoot down the pipes. Their customers are in pain. Massive debt. A challenged company. Yield is about 8.2%. Instead, he'd be in Keyera.

BUY
She owns this Pembina and Enbridge among pipeline. ENB is more defensive since it's the largest transporter of crude oil and natural gas in North America. Over 95% of what they move is under long-term take-or-pay contracts. Their yield is under 8% at a 60% payout ratio, so safe. It maintained its guidance even during the lockdown. It's difficult to build pipelines, but ENB recently enjoyed good news to resume building its line 3, which she expects will get built. ENB offers a solid income flow.
BUY
Consolidation in pipelines coming? No, not likely. There are ENB and Transcanada which dominate this space, plus regional players like Pembina. There was a flurry of M&A three years ago, but he doesn't see that appetite now. ENB has been shaking off non-core assets to reduce debt and strengthen their balance sheet. ENB is recession-resilient. Today, they finally got approval to reopen their line in Michigan. Expect modest organic growth in their gas business. Their renewables are small, but growth and are important for the future--pay attention to this. Finally, the biggest catalyst is the line 3 replacement. Pays a 7.8% yield.
COMMENT
Tremendous assets, but a mountain of debt. They benefit from low interest rates. But the dividend around 8% indicates the market is dubious. Will go quite a long way before they cut the dividend. It's a business that we all need, whether there's Covid or not. Impossible to build new pipelines, so existing ones are valuable.
HOLD
Oil and gas are undervalued, as the world as a whole is moving on from that sector. But the commodity will still be used, and so ENB should have sustainable earnings. Biggest thing is where are they going to get their growth from? Likes the company, especially for income investment, but growth is questionable as it's so hard to get new approvals.
WEAK BUY
They're trying to complete the Line 3 pipeline, but are awaiting a court decision in Minnesota and face a US election. Line 3 should be approved. The base company is still a necessity, supplying oil and gas to Ontario. You might get stock appreciation to the $50s, but don't count on it. The 7% dividend is solid however.
BUY
Pays a 7.5% yield that's safe. True, the stock hasn't moved lately, but you're paid to wait. Trades at a higher free cash yield than peers. Balance sheet is getting much better. 70% payout ratio, so yield is fine. The only risk is line 3 and 5, which may or may not happen. The stock will do well if they don't get those lines going.
PAST TOP PICK
(A Top Pick Jul 12/19, Up 0%) Still owns it. Most growth among the pipelines. Good recent quarter, and reiterated dividend and earnings growth. A good entry point today, down $1.50 from $45.
DON'T BUY
Trying to pick up positive price momentum. More volatile recently. A bit rich. Lots of debt on the balance sheet. Good yield, but payout ratio is bumping up where he'd get concerned. A small short for him. Might lag some of the other companies with a better ROE.
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