The Foolish investing approach works best when you own businesses that can keep generating reliable cash flow through all kinds of market environments. While short-term volatility can create uncertainty, many high-quality dividend stocks can still outperform the broader market and keep climbing. That’s exactly why many long-term investors continue to focus on companies with durable operations, dependable dividends, and strong growth pipelines.
One TSX dividend giant that checks all those boxes is Enbridge (TSX:ENB). Despite market fluctuations over the years, this energy infrastructure giant has continued expanding its operations, growing earnings, and rewarding shareholders with reliable income. These are some of the key reasons why its shares have risen over 40% over the last three years, including nearly 15% in 2026 alone.
Let me explain why Enbridge continues to be a really attractive buy-and-hold stock for dividend investors even at current levels.
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Enbridge stock
If you don’t know it already, Enbridge is one of North America’s largest energy transportation and distribution companies. Headquartered in Calgary, it operates across multiple business segments, including liquids pipelines, gas transmission, gas distribution and storage, and renewable power generation.
Its vast infrastructure network transports crude oil and natural gas across Canada and the United States while also supplying millions of customers with natural gas distribution services. This large-scale, diversified business model helps Enbridge generate stable and predictable cash flow, even during periods of economic uncertainty. That justifies why its share prices have been climbing in 2026 despite growing macroeconomic uncertainties and geopolitical tensions.
As a result, ENB stock currently trades at $74.87, giving it a market cap of $163 billion. At current levels, it also offers an attractive dividend yield of 5.2% with quarterly payouts.
Strong financial momentum continues
Last year, Enbridge reported record financial results, highlighting the underlying strength of its operations. Its generally accepted accounting principles (GAAP) earnings for the year rose to $7.1 billion, compared to $5.1 billion a year earlier.
Similarly, the company’s adjusted earnings for 2025 climbed 8% year-over-year (YoY) to $6.6 billion, while its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 7% to $20 billion. This financial growth was mainly backed by stronger contributions from its gas transmission business and higher seasonal demand in the latest quarter.
For the full year, the company’s distributable cash flow also improved 4% YoY to $12.5 billion due to solid operational performance and lower maintenance spending. More importantly, Enbridge achieved its financial guidance targets for the 20th consecutive year, highlighting the consistency and resilience of its business model.
Growth projects supporting the future
Interestingly, Enbridge continues investing heavily in long-term growth opportunities across traditional and renewable energy infrastructure. In 2025 alone, the company placed $5 billion of organic growth capital into service and approved $14 billion worth of new projects.
Some of its key projects include Mainline Optimization Phase 1, which is expected to add 150,000 barrels per day of Mainline capacity to its portfolio, and the Bay Runner extension connected to the Whistler Pipeline system. These projects could help it cater to rising energy demand while generating stable long-term cash flow.
Foolish bottom line
It is important to note that Enbridge’s secured growth backlog expanded to $39 billion at the end of 2025, up roughly 35% from a year ago. This backlog includes natural gas, liquids, and renewable energy projects, giving it multiple growth opportunities for the next several years.
The company is also continuing to strengthen its renewable energy portfolio with projects that are backed by long-term power purchase agreements and are expected to enter service by 2027.
With a strong track record of execution and a 5.2% dividend yield, Enbridge stock remains a solid stock for investors looking to build long-term wealth while collecting reliable passive income along the way.
