Enbridge (TSX:ENB) is one of the most reliable TSX dividend stocks from the energy sector with a decades-long track record of rewarding investors with attractive dividends. The Canadian energy infrastructure giant has also increased its dividends for 30 consecutive years.
Beyond its income appeal, ENB stock has also delivered strong capital gains lately as it has rallied 30% over the last 12 months against the TSX Composite benchmark’s 14% increase. Today, the stock trades at $63.50 with a market cap of $138.4 billion and offers a generous 5.9% dividend yield.
Before calculating how many shares of Enbridge you would need to own to generate $2,000 of annual dividend income, let’s take a closer look at some key fundamentals that make this stock attractive for long-term income investors.
Enbridge stock
First, let’s look at what Enbridge does. At its core, Enbridge helps move energy around — oil, natural gas, and even renewable power. It owns a massive network of pipelines and storage facilities across North America.
This kind of behind-the-scenes business might not make daily headlines, but it’s the kind that keeps economies running. And because demand for energy doesn’t just disappear overnight, Enbridge’s role stays relevant through all kinds of market cycles. That’s a big reason investors see it as a safe, dependable stock.
Now, let’s talk about what’s been fueling that recent rally in ENB stock. Over the last year, Enbridge shares have soared, and a lot of that momentum has to do with how the company is executing its strategy. In 2024, it placed $5 billion worth of projects into service and sanctioned $8 billion more. It also completed a $19 billion acquisition of three U.S. gas utilities, making it the largest natural gas utility owner in North America. That deal diversified Enbridge’s revenue streams further, something investors love in uncertain times.
Solid financials
For the full year 2024, Enbridge reported record adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $18.6 billion, up 13% from the year before. Similarly, the company’s distributable cash flow also hit a record $12 billion last year. Even earnings per share climbed higher despite the company issuing more shares to fund the utility acquisition.
Basically, Enbridge has been growing across the board while still sticking to its low-risk playbook.
Shares to buy for $2,000 in yearly dividends
If you want to earn $2,000 in yearly dividends from Enbridge stock, here’s how the math works. With ENB stock currently offering a 5.9% dividend yield and trading at $63.50 per share, each share would generate approximately $3.77 in annual dividends. To reach $2,000 in dividend income, you’d need to own about 531 shares. That means a total investment of roughly $33,719 at the current share price.
| COMPANY | RECENT PRICE | NUMBER OF SHARES | QUARTERLY DIVIDEND / SHARE | TOTAL YEARLY PAYOUT |
| Enbridge | $63.50 | 531 | $0.9425 | $2,001.87 |
| Prices as of March 27, 2025 |
While this scenario gives you a clear picture of how dividend stocks can generate steady income, don’t overlook the need for diversification, as investing heavily in just one stock, no matter how steady or reliable, carries risk.
