Records continue to be broken at Enbridge Inc. (TSX:ENB). As this North American energy infrastructure giant looks forward to 2026, there are plenty of reasons to be excited.
In a nutshell, the North American energy sector is increasingly a key beneficiary in the booming energy market. Enbridge has pipelines connecting North American oil and gas to export centres, storage facilities, and utilities that are benefiting from rising demand from customers such as power generators, LNG facilities, and data centres.
Enbridge’s stock price is currently trading near all-time highs. Let’s take a look at whether you should buy, sell, or hold Enbridge stock in 2026?
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Enbridge stock: Riding high on momentum and results
Enbridge management’s words have been very strong. Macro-economic trends and happenings have been equally strong. And they all point to a strong year in 2026 and beyond, with energy demand booming both at home and abroad. And Enbridge is at the heart of this, serving North American markets as well as global markets through its infrastructure connecting the resource to the customer.
As the CEO of Enbridge recently stated, it’s “game on” for growth as energy demand continues to surge. This is due to a major shift that’s happening in the energy sector. A shift that changes everything. In fact, he has characterized this time as a time of amazing growth, with the best opportunities that he’s seen in 10 to 15 years.
And this will serve Enbridge stock well. North America’s oil and gas resources are abundant, safe, relatively cheap, and reliable. And the demand for this resource is growing rapidly both domestically and abroad. Enbridge is ready to help Canada’s oil and gas make it to the customers that need it.
Where is this booming demand coming from?
It’s coming from domestic and global sources. LNG facilities are booming because of strong global demand for North American natural gas, data centres are driving demand, and utilities are seeing growing demand.
For example, North American liquefaction capacity is expected to require over 30 billion cubic feet (bcf) per day of natural gas by the end of 2030. Also, natural gas demand is expected to increase by 28 bcf per day by 2030. Enbridge’s sanctioned pipeline projects will cover this increase.
At this time, Enbridge stock has $40 billion in capital backlog, supporting visible growth through to the end of the decade. These are low risk expansion projects – for example, the expansion of Enbridge’s mainline pipeline and its Permean basin system, which will support deliveries to the LNG export facility.
The bottom line
Enbridge stock is well-positioned today with a business model that delivers high quality and predictable cash flows. This is underpinned by revenues that are either regulated or have long-term take-or-pay contracts. The energy infrastructure giant serves more than 75% of North American refineries and 20% of all gas consumed.
Enbridge stock will be reporting its second-quarter results on July 31. Estimates are calling for earnings per share (EPS) of $0.60. For the year, analysts are calling for EPS of $2.92 versus $3.02 in 2025. But most importantly, Enbridge will continue to expand in 2026, setting it up for strong long-term growth.
Enbridge stock is currently yielding 5%. With its strong growth outlook, ENB’s stock price should head higher and is therefore a buy.
