TSE:ENB

Enbridge (ENB.TO)

69.32
-0.38 (0.55%)
as of Sep 4, 2026, 8:00:00 pm Market Open.
2692 watching
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Investor Insights
star iconSep 5, 2026, 12:00 am

This summary was created by AI, based on 38 opinions in the last 12 months.

Enbridge (ENB) is viewed as a solid and well-managed company with a strong dividend yield averaging about 5.5%. Experts highlight its financial discipline and long-term growth potential, primarily due to its extensive pipeline network and infrastructure projects in North America. However, the stock faces challenges, including high capital intensity, a fair amount of debt, and competition for investor interest from faster-growing companies. While many analysts point to a steady income story, they express caution about overall valuation and potential for significant growth. The consensus leans towards a steady investment for income rather than growth, emphasizing the need for caution at higher price points given its recent uptick in value.

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Consensus
Hold
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Valuation
Fair Value
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Similar
TRP
HOLD
Dividend safe? He owns ENB. It was a poor performer for a while, but it seems to be coming their way. Pipelines are getting approval, and Line 3 is beginning to flow in Canada. Michigan is putting up a fight so it may take a while. The dividend was announced to increase by 10% and he believes it is solid. He would have no issue owning it here. Just be aware that a rise in interest rates would hurt them as they trade like a utility.
BUY
They recently announced they are raising the dividend 10% and expanding their existing pipelines. They are expanding so they export their oil at US ports. They are going to do a joint venture in Texas out to a deep sea port to be able to export oil ocean tankers.
PAST TOP PICK
(A Top Pick Feb 22/19, Up 11%) They are doing the right things (paying down debt, dealing with partnership restructuring) and increasing the dividend. It is the second largest term holding they have.
COMMENT
They just raised the dividend by 9% and it is cheap on a free cash yield basis. He models 6% earnings growth. There is still risk with Line 3, but that seems to be working out. A good dividend. He was buying back in around $41.
WEAK BUY
He's added to this. He owns it for the yield and valuation. Pipeline stocks used to trade at 10x earnings with no growth. There's still no growth, but today with zero interest rates, these stock look attractive. In turn, pipelines will get higher valuations of 12x or more operating cash flow. But ENB's dividend last year was more than the total earnings of the company--scary. The balance sheet is stretched. All in all, it's a defensive play that's done well.
BUY
A dividend-paying stock There are many, 20. Enbridge is one. Delays in line 3 and debt were a problem, but ENB has solved both and have in fact just raised their dividend. If pipelines are scarce, then why not own one? ENB isn't expensive now.
COMMENT

ENB vs. Keyera for dividend safety They pay the same yield. FMV of Keyera is 14% higher and Enbridge is 13.4% than current stock prices. Keyera has resistance at $36 (sell at this point). The big difference is, the balance sheet of Enbridge is slipping away, while Keyera's is rising, so he mildly prefers Keyera. Both have limited upside.

PAST TOP PICK

(A Top Pick Dec 10/18, Up 28%) Pays over a 5% yield. They have a $19 billion spending program that they can self-fund without issuing shares. Their leverage is a little higher than their target. They just reported a very good quarter. He's sticking with it. He slightly prefers this over TC Energy.

COMMENT

TRP vs. Enbridge Both are great companies, but prefers TC for paying a higher dividend (that should continue to rise), and a more stable balance sheet. ENB has a lot of debt from acquisitions. ENB's dividend is higher, but less safe. TC is a core investment.

PAST TOP PICK
(A Top Pick Jan 31/19, Up 11%) One of the largest shippers of oil and natural gas in North America. December 10 is their analyst day and there should be good news on earnings. It should get 8-10% growth plus the dividend. Yield 6%
COMMENT
IPL vs ENB? IPL is really a Western Canadian story with a 7.7% yield, whereas ENB is a North American play. IPL is building a petrochem plant, which is going to require a lot of debt. He thinks investors were upset with the take-over bid as they never were given a chance to vote on it. At this price level, he likes it. He prefers KEY.
TOP PICK
NA's largest energy transporter. Key piece of infrastructure. Increasingly difficult to build new pipelines, so these are increasingly valuable assets. Underappreciated. You get paid to wait. Good 20% upside from here. Yield is 5.84%. (Analysts’ price target is $55.17)
COMMENT
Not free cash-flow positive. 5.7% dividend with a payout ratio of 55%. Overall, he’s positive on energy stocks but it’s not his preferred pick in the space.
COMMENT
Favourite pipeline? Pembina, Transcanada and three others--whatever pays the highest dividend. But he always follows Enbridge. It's a stalwart and pays a healthy dividend. Pipelines are a monopoly.
BUY ON WEAKNESS
The stock and whole group looks good. Don't chase, but buy on weakness. Also pay a 6% dividend.
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