1 hour ago
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Vandita Jadeja
Tue, June 16, 2026 astatine 10:53 AM CDT 4 min read
Quick Read
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ENB trades 11% beneath its 52-week high, but 24/7 Wall St. rates it a BUY with a $70.51 people implying 26% upside.
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Enbridge's $40 cardinal secured backlog and 31 consecutive dividend hikes anchor a 6.9% output for income-focused investors.
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Leverage astatine 5.0x debt-to-EBITDA and regulatory delays connected cardinal projects airs the biggest risks to Enbridge's bull thesis.
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Enbridge (NYSE:ENB) is trading wrong striking region of its 52-week high, and the question for investors is whether the rally has much country to run. Shares closed astatine $55.94 connected June 15, 2026, conscionable 11% beneath the 52-week precocious of $58.45.
Our 24/7 Wall St. terms people for Enbridge is $70.51, implying 26.04% upside implicit the adjacent 12 months. Our exemplary rates ENB a bargain with precocious confidence.
24/7 Wall St. Price Target Summary
A Quiet Rally Built connected Record Cash Flow
ENB has gained 20.09% twelvemonth to day and 26.61% implicit the past year, outpacing emblematic midstream peers.
The Q1 2026 report, released May 8, 2026, delivered adjusted EPS of $0.98, adjusted EBITDA of $5.81 billion, and distributable currency travel of $3.85 billion. Mainline volumes ran astatine 3.2 cardinal barrels per time and person been apportioned each year. Recent quality travel reinforces the thesis: RBC Capital raised its people to C$79 and Scotiabank moved to C$78, some Outperform.
The Case for $78+
Bulls person an casual communicative to tell. Enbridge is advancing implicit 50 information halfway opportunities needing up to 10 Bcf/d of caller state takeaway. The Meta concern present spans implicit 1 GW of combined power, with the $1.2 cardinal Cowboy Project successful Wyoming adding 365 MW of star and 200 MW of artillery storage.
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The secured backlog stands astatine C$40 cardinal with unsanctioned opportunities of C$50 billion. Our bull lawsuit script points to $78.29, a 39.96% full return. With 31 consecutive years of dividend hikes and a 6.9% yield, income investors get paid to wait.
What Could Go Wrong
Leverage is the biggest ticker item. Debt-to-EBITDA sits astatine 5.0x, the apical of the 4.5x-5.0x people range. CAD/USD translation, regulatory delays connected projects similar the Line 5 Wisconsin reroute, and assemblage absorption to Project Beacon successful New York adhd execution risk.
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