Professional
Added to YB: 2024-07-03
Pitch date: 2024-06-24
ENB [bullish]
Enbridge Inc.
+48.21%
current return
Author Info
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Company Info
Enbridge Inc., together with its subsidiaries, operates as an energy infrastructure company. The company operates through four segments: Liquids Pipelines, Gas Transmission, Gas Distribution and Storage, and Renewable Power Generation.
Market Cap
CAD 149.3B
Pitch Price
CAD 32.08
Price Target
48.00 (+1%)
Dividend
5.51%
EV/EBITDA
13.44
P/E
26.78
EV/Sales
4.08
Sector
Oil, Gas and Consumable Fuels
Category
dividend
Enbridge Inc.: Recent weakness a buying opportunity
ENB: Buy at $35, PT $48 (37% upside). Q1 EPS $0.59, beat est. Div yield 7.7%, 29yr growth. 2024 EPS est $2.10. Leader in midstream, stable cash flow. Risks: commodity prices, weather, regulation. Recent acquisitions (East Ohio Gas, Questar) to boost growth. P/E 16.5x 2024E, below hist. range. Strong financials: BBB+ rated, 56.6% debt/cap.
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