Enbridge (ENB)

• Market cap: $102B
• 1 day: -0.30%
• 5 days: 0.56%
• 1 month: 4.71%
• 3 months: 9.68%
• 6 months: 11.36%
• Year to date: 8.59%
• 1 year: 31.95%
• 5 years: 49.97%
• 10 years: 3.05%
• Sector: Energy
• Industry: Oil & Gas Midstream

About: Enbridge owns extensive midstream assets that transport hydrocarbons across the us and Canada. Its pipeline network consists of the Canadian Mainline system, regional oil sands pipelines, and natural gas pipelines. The company also owns and operates a regulated natural gas utility and Canada's largest natural gas distribution company. The firm has a small renewables portfolio primarily focused on onshore and offshore wind projects.

Employees: 14,500

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

88% more first-time investments, than exits

New positions opened: 128 | Existing positions closed: 68

18% more funds holding in top 10

Funds holding in top 10: 38 [Q4 2024] → 45 (+7) [Q1 2025]

6% more capital invested

Capital invested by funds: $46.5B [Q4 2024] → $49.3B (+$2.79B) [Q1 2025]

2% more funds holding

Funds holding: 1,325 [Q4 2024] → 1,346 (+21) [Q1 2025]

5% more repeat investments, than reductions

Existing positions increased: 488 | Existing positions reduced: 463

0.56% less ownership

Funds ownership: 49.97% [Q4 2024] → 49.41% (-0.56%) [Q1 2025]

27% less call options, than puts

Call options by funds: $378M | Put options by funds: $516M

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $67 44% upside
• Avg. target: $67 44% upside
• High target: $67 44% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

RBC Capital Maurice Choy

44% upside $67

Outperform Reiterated

12 May 2025