Enbridge (ENB)
Connects North American energy markets through pipelines, gas utilities, storage, and renewable power.
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Transports crude oil and natural gas across North America, supplies regulated gas utility customers, and owns renewable power assets. Long-lived cross-border networks generate contract- and regulation-backed revenue, while reliability, integrity programs, permits, and court proceedings shape operations.
Moves crude oil and natural gas across North America through long-lived pipeline, terminal, storage, and processing networks. Liquids Pipelines links Canadian production with refining markets, while Gas Transmission, Midstream and LNG connects producing basins with utilities and export facilities.
Supplies regulated natural gas through utility systems in Canada and the United States, and owns renewable power assets. The portfolio broadened materially through the Spectra Energy combination and the acquisition of three U.S. gas utilities.
Execution depends on operating reliability, integrity programs, regulatory approvals, contracts, and sustained capital investment. Cross-border corridors expose projects and existing lines to court orders, permits, Indigenous-rights disputes, and environmental enforcement; Line 5 remains subject to unresolved legal and permitting proceedings.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | National Bank | Upgrade | ||
| Sep 14, 2026 | BMO Capital | Upgrade | Target: — | Target: $79.50 |
| Sep 14, 2026 | Stifel Nicolaus | Target | Target: — | Target: $67 |
| Sep 14, 2026 | TD Securities | Upgrade | ||
| Aug 27, 2026 | CIBC | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $2.03B · Total debt $79.70B · Total assets $164.64B · Shareholders' equity $46.45B
- Revenue
- $20.84B
- Operating income
- $2.07B
- Net income
- $1.07B
Reported in CAD, converted at the latest exchange rate
HistoryDividendAnnual yield
| Institutions | 49.12% | 1.07B shares | |
|---|---|---|---|
| 1,568 holders · as of Jun 30, 2026 | |||
| Other | 50.88% | 1.11B shares | |
| remainder | |||
2.18B company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Capital International InvestorsInstitution | 6.21% | 135.67M | filed Feb 14, 2020 |
Royal Bank of CanadaInstitution | 4.96% | 108.39M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 2.87% | 62.78M | as of Jun 30, 2026 |
Bank of Montreal /Can/Institution | 2.82% | 61.49M | as of Jun 30, 2026 |
GQG Partners LLCInstitution | 2.25% | 49.08M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Kinder Morgan
Broad overlap in gas transmission, liquids pipelines, storage, and terminals
- TC Energy
Closest Canadian peer in continent-scale natural gas transportation
- Energy Transfer
Diversified rival across gas, crude, NGL, storage, and export infrastructure
- South Bow
Direct crude-pipeline rival from Western Canada to U.S. refining markets
- Williams
Natural gas specialist spanning transmission, gathering, and Gulf infrastructure
- Pembina Pipeline
WCSB rival in pipelines, processing, fractionation, and export logistics
- Enterprise Products Partners
Gulf Coast rival in crude, natural gas, NGL, and export logistics
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Enbridge | $48.35 | +0.31% | $105.25B | 23.5 | 23.3 | 1.6 | +89.7% |
| Kinder Morgan | $31.62 | −0.33% | $70.63B | 20.3 | 21.4 | 3.9 | +10.8% |
| TC Energy | $60.71 | +0.38% | $62.96B | 25.4 | 24.3 | 5.5 | +40.3% |
| Energy Transfer | $20.92 | +0.07% | $71.92B | 13.0 | 12.8 | 0.7 | +78.4% |
| South Bow | $35.18 | +0.23% | $7.32B | 16.9 | 19.3 | 4.4 | +4.2% |
| Williams | $71.80 | +0.21% | $87.64B | 28.4 | 29.9 | 7.2 | +10.2% |
| Pembina Pipeline | $46.46 | +0.15% | $26.97B | 23.0 | 22.7 | 4.8 | +15.2% |
| Enterprise Products Partners | $38.60 | +0.34% | $83.23B | 13.4 | 12.6 | 1.4 | +60.8% |
| Median | 20.3 | 21.4 | 4.4 | +15.2% |