There are few if any stocks that resonate with investors as much as Enbridge (TSX:ENB). The energy behemoth boasts significant appeal in some areas but lacks in others. This has led to many questions as to whether the stock is a buy, sell, or hold in 2026.
Let’s try to answer that buy, sell, or hold in 2026 question by outlining a case for each.
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The case to buy
Enbridge is one of the most widely held stocks in Canada, and for good reason. The company offers a diversified line of business segments that generate ample revenue for Enbridge to reinvest back into the business and pay a handsome dividend.
The main driver is Enbridge’s lucrative pipeline business. The pipeline operation, which serves both natural gas and crude, hauls massive amounts of both each day.
Further to that, Enbridge operates a growing renewable energy business. That segment comprises approximately 40 assets located in North America and Europe. Renewable energy assets generate a recurring revenue stream that is backed by regulated contracts.
Finally, Enbridge also operates one of the largest natural gas utilities in North America. That segment boasts millions of customers and a similar regulated contract appeal.
The end result across all segments is the same. Enbridge generates ample revenue that is used to invest in growth initiatives and pay its dividend.
That dividend is the real driver in the decision to buy, sell, or hold in 2026. As of the time of writing, Enbridge offers a compelling 6% yield. This makes it one of the better-paying dividends on the market.
Enbridge has provided annual upticks to that dividend for 31 consecutive years without fail. That factor alone makes it a solid addition to any portfolio.
Prospective investors considering the buy, sell, or hold in 2026 question should factor in one last key differentiator.
None of those segments are directly tied to the volatile price of oil.
The case to hold
Investors not looking to buy, but still searching for an answer to the buy, sell, or hold in 2026 question, may want to consider holding.
Enbridge’s well-diversified business segments generate ample revenue. The company also boasts a multi-billion-dollar backlog of projects to increase that revenue stream further.
And those segments are incredibly defensive. The pipeline segment alone offers an almost unheard-of defensive moat thanks to the sheer volumes it transports.
Specifically, Enbridge transports approximately one-third of all North American-produced crude and one-fifth of the natural gas needs of the U.S. market.
Factoring in the reliable, regulated revenue stream from its renewable energy and utility segments adds more fuel to the overall defensive appeal of Enbridge.
More importantly, it positions Enbridge in a unique niche between pipeline operator and utility. That comes with unique advantages that warrant investors contemplating whether to buy, sell, or hold in 2026.
Sometimes the best option is to do nothing at all. Investors who go this route will continue to earn that strong, well-covered (and still growing) dividend.
The case to sell
Sometimes, a steady dividend and a defensive business aren’t enough. Investors seeking strong capital appreciation may be drawn to other parts of the market.
That’s especially true, seeing the trailing broader12-month return of the market was 33%, while Enbridge managed a modest 3% bump.
Adding to that anemic boost during a bull year is the capital-intensive nature of Enbridge’s business.
Building renewable energy assets, pipelines, and storage facilities is an expensive business. One that is particularly reliant on taking out debt. As interest rates remain stubbornly higher than historic levels, this draws on Enbridge’s profits and, by extension, growth potential.
In other words, there could be better options with stronger growth potential on the market right now.
Will you buy, sell, or hold in 2026?
Investors seeking reliable income, inflation‑resistant cash flows, and long‑term stability can justify buying Enbridge, even if that growth is modest.
Existing investors, unsure of whether to sell, can opt to hold Enbridge and still benefit from its reliable income generation.
Finally, investors who seek higher growth instead of income generation can sell Enbridge while the stock still trades well above its 52-week low.
