TSE:ENB

Enbridge (ENB.TO)

65.77
-0.38 (0.57%)
as of Oct 1, 2026, 8:00:00 pm Market Open.
2696 watching
0
TOP PICK
The market has over-discounted their line 3 replacement problems. Line 5 could be a temporary shutdown only. They have a highly contracted cash flow and a secure capital program. Expects dividends to rise. Pays over a 6% yield. (Analysts’ price target is $56.07)
BUY ON WEAKNESS
The pipelines tend to be recession resistant. A toll in the flow of oil that provides some protection. You could get some stock growth, but nothing like very high valuations from 2-3 years ago. However, balance sheet is good, and they pay a stable dividend.
BUY ON WEAKNESS
Yields 6.5% that will grow by 5-10% annually. She expects line 3 will get built. Meanwhile, they have a large ground transportation system. Their cash flow will grow. She's buying on pullbacks.
HOLD
Pipelines. It is a 6.4% yield and is a safe dividend. Their problem is that some pipelines are sort-of in limbo. Environmentalists are trying to get a pipeline of theirs closed own. He thinks all of this will get resolved.
DON'T BUY
He used to own this and was keen on this, but it's now hard to build pipelines. Its line 3 woes is getting a lot of pushback. At least wait to see if ENB gets cheaper.
DON'T BUY
The 6.2% yield is safe. Overall it will continue to do okay. He prefers other stocks, however.
DON'T BUY

Management has done a good job in this light oil producer (WCP-T). If the economy slows, oil prices would fall and that could threaten the yield further. He has a negative view on all resources right now. He only owns pipelines like ENB-T.

BUY

It has a good income. They had a few stumbles and now people seem to prefer TRP-T, but he would be a buyer of ENB-T here.

WATCH
The dividend is safe. If their pipes go through (line 3 and 5), it will do fine. There is still a lot of drama and he’s not putting more money into it.
HOLD
A declining interest rate environment is good for them. The dividend will continue to grow. They have issues on line 3 and 5. If line 5 is shut down then we can't get oil to the US to go east and west. They are in the process of cleaning up their corporate structure from a balance sheet perspective. He thinks it will go higher and continue to thrive.
PAST TOP PICK
(A Top Pick Jul 25/19, Up 7%) He still likes it. Great for income and would buy it today. The only issue is the lack of pipelines in Canada, but in the end there's a fundamental need to move oil across the country.
COMMENT
The dividend is safe and will continue to grow. Line 3, the main pipeline from Manitoba to America, hit some delays and legal action, but that's all resolved. Line 5 is hitting resistance from the Michigan governor, but he's confident it will be resolved.
COMMENT

The Federal government is anti-pipeline? He looks at either TRP-T and ENB-T for this space. He prefers the valuation of ENB-T at this time. He likes how TRP-T is re-inventing itself however. There is a big question mark around whether Keystone pipeline will actually get built. Any hint of failing to go forward could negatively impact the TRP-T share price.

BUY

He likes both companies. There was always a concern about ENB-T being able to finance their projects but they keep proving they can. He believes they will continue to perform fairly well. They are an attractive yield play.

BUY
Big problem was buildup of debt. But this has been corrected to some degree. Decent dividend. Risk with Line 3 and 5, but regulatory risk will always be there. Valuations are more reasonable than they've been for a while.
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