Enbridge (ENB) Stock Forecast & Price Target

Enbridge's extensive midstream assets and diversified pipeline network are positioned to leverage significant growth, particularly with forecasts predicting a 7% increase in oil demand and a 29% rise in natural gas demand from 2019 to 2040, as per the International Energy Agency. The company's strategy of engaging in joint ventures and minority interests enables it to maximize capital efficiency while broadening market insights across its core franchises, which also supports its ongoing expansion efforts. Additionally, Enbridge's focus on strengthening its leverage position through stable utility cash flows further enhances financial stability and underpins a positive outlook.

Enbridge's debt-to-EBITDA ratio at 4.9x as of Q1/25 remains slightly above its targeted range of 4.5-5.0x, indicating continued leverage concerns. Forecasts for earnings per share in 2025 and 2026 have been revised downward to $2.95 and $3.18, reflecting anticipated increases in depreciation and interest expenses. These financial metrics suggest an ongoing challenge for Enbridge, potentially impacting its ability to manage debt and generate consistent earnings growth.