Yes. Buying Enbridge (TSX: ENB) stock below $75 looks like a smart move for long-term investors. This is not a speculative bet but a chance to own North America’s largest energy infrastructure company at a reasonable price, while collecting a well-covered dividend that has grown every single year for three decades.
The fundamentals are strong, the growth backlog is massive, and the stock is simply not getting the credit it deserves right now.
Here is the full picture.
Source: Getty Images
Enbridge is an energy giant
Enbridge is not just a pipeline company. It is the backbone of North American energy.
On the liquids side, Enbridge transports roughly 30% of all crude oil produced in North America. It moves about 70% of Canadian crude oil bound for the U.S. and accounts for 40% of total U.S. crude oil imports.
In 2025, the company delivered more than 4.9 billion barrels of oil, the highest annual total in its history.
On the natural gas side, Enbridge moves about 20% of all gas consumed in the United States.
Its network spans 31 U.S. states, four Canadian provinces, and offshore Gulf of Mexico assets. Texas Eastern, one of its flagship systems, recently hit a new peak record of over 15 billion cubic feet per day in January 2026.
Add in regulated gas utilities serving 7.1 million customers across Canada and the U.S., plus a growing renewable power portfolio with 7.3 gigawatts of gross generation capacity, and you have a diversified infrastructure giant.
Record performance
Enbridge delivered record EBITDA (earnings before interest, tax, depreciation, and amortization) and distributable cash flow per share in 2025, the 20th consecutive year of meeting or exceeding annual financial guidance.
For 2026, management is guiding for EBITDA between $20.2 billion and $20.8 billion, with distributable cash flow of $5.70 to $6.10 per share. Enbridge pays an annual dividend of $3.88 per share, which translates to a payout ratio of 66%.
The TSX dividend stock also expects $8 billion of new assets to enter service throughout 2026. Its growth backlog now sits at $39 billion, up 35% since the company’s Investor Day last March.
And Enbridge expects to reach a final investment decision on another $10 billion to $20 billion of projects over the next 24 months. A growing portfolio of cash-generating assets should help Enbridge raise cash flow and dividends over time.
Is ENB an AI stock?
Enbridge is currently advancing more than 50 potential data centre opportunities that could require up to 10 billion cubic feet of natural gas per day. That is a brand-new demand driver layered on top of an already-growing base business.
Gas Transmission President Matthew Akman put it plainly on the earnings call:
“Everyone is starting to come on to the same page that the most important issues in energy these days for average people, which are affordability and reliability, are going to be solved by natural gas.”
On the renewable side, Enbridge recently sanctioned Cowboy Phase 1, a 365-megawatt solar and 135-megawatt battery storage project in Wyoming, secured by a fixed offtake agreement with a major technology company. A separate 152-megawatt wind project called Easter is backed by Meta.
In total, Enbridge’s power partnerships with large technology companies are set to provide over one gigawatt of renewable generation.
A growing dividend
Enbridge has increased its dividend for 31 consecutive years. Notably, it expects to pay out $40 billion to $45 billion in dividends to shareholders over the next five years. The payout ratio target of 60% to 70% of distributable cash flow is sustainable.
At the current share price below $75, the dividend yield is comfortably above 5%. That alone is worth serious consideration for income-oriented investors.
The 5% annual growth in distributable cash flow per share that management is guiding for through 2030 means both the income and the underlying value of the investment should keep compounding quietly in the background.
Below $75, Enbridge looks like exactly the kind of anchor position that long-term investors use to build wealth.
