Enbridge operates crude oil and natural gas pipelines, liquids terminals, and renewable energy assets across North America and internationally, generating revenue primarily from long-term take-or-pay contracts that guarantee throughput fees regardless of volume. The company's competitive moat stems from the high capital intensity and regulatory barriers to building competing pipeline infrastructure, combined with sticky customer relationships on assets that move 25% of North American crude oil. Near-term growth hinges on completion of the Line 3 replacement project and ramp-up of the recently acquired renewable energy portfolio, which should drive incremental cash flow in 2024 and 2025. The forward PE of 20.7x appears reasonable for a utility-like business with 5-6% dividend yield and contracted cash flows, but the 9.2% ROE and 10.2% operating margin suggest capital is not being deployed at attractive returns, and the company faces regulatory and political headwinds on expansion projects that could constrain growth beyond near-term catalysts. The 97% revenue growth figure is inflated by acquisition accounting and masks underlying operational momentum.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 21 Oct 2026, 13:04 CEST | Rating | Overvalued | first publication | $47.89 |
| 17 Oct 2026, 00:00 CEST | Fair value | $42.55 | $44.16 | $46.83 |
| 12 Oct 2026, 00:00 CEST | Fair value | $44.16 | $36.60 | $46.60 |
| 27 Sept 2026, 00:00 CEST | Fair value | $36.60 | $36.98 | $46.74 |
| 24 Sept 2026, 00:00 CEST | Fair value | $36.98 | $37.61 | $47.90 |
| 20 Sept 2026, 00:00 CEST | Fair value | $37.61 | $27.85 | $48.73 |
| 18 Sept 2026, 00:00 CEST | ACCE price target | $49.00 | first publication | $48.75 |
| 17 Sept 2026, 00:00 CEST | Fair value | $27.85 | $38.02 | $67.32 |
| 30 Aug 2026, 00:00 CEST | Fair value | $38.02 | $37.57 | $50.20 |
| 27 Aug 2026, 00:00 CEST | Fair value | $37.57 | $38.40 | $49.88 |
Answered from Enbridge Inc Common Stock fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| ENB Enbridge Inc Common Stock | $48.15 | $43 | 13% above | 25.7x | 9.2% | 49 | 53 |
| ENB.TO Enbridge | C$67.19 | C$47 | 44% above | 26.0x | 9.2% | 49 | 53 |
| WMB Williams Companies Inc. (The) Common Stock | $70.63 | $27 | 160% above | 28.6x | 21.5% | 81 | 61 |
| EPD Enterprise Products Partners L.P. Common Stock | $36.52 | $31 | 16% above | 12.7x | 20.8% | 56 | 69 |
| KMI Kinder Morgan Inc. Common Stock | $33.72 | $18 | 83% above | 20.9x | 11.0% | 69 | 67 |
| TRP TC Energy Corporation Common Stock | $61.98 | $33 | 85% above | 24.6x | 11.8% | 71 | 61 |
| TRP.TO TC Energy | C$86.86 | C$42 | 106% above | 24.6x | 11.8% | 71 | 60 |
Where ENB ranks against its sector peers on each metric.