Enbridge Stock Rises to $75.19 After Nearly 21% Gain
Enbridge stock trades at $75.19 per share after rising nearly 21% over the last year. The move has pushed the company to a market value of nearly $164 billion while it still pays a 5.2% dividend yield.
For long-term holders, that combination of price strength and income is the point: the shares have moved up, but the payout remains a central part of the return profile. Jitendra Parashar, a writer at The Motley Fool Canada, framed the stock around where it could be in three years.
Enbridge's $5.8 Billion Quarter
$5.8 billion of adjusted EBITDA in the first quarter of 2026 gave the latest operating proof behind the stock’s run. The company also posted $3.9 billion of distributable cash flow, up from $3.8 billion a year earlier, which left more cash available to support the dividend and fund growth projects.
3.2 million barrels per day moved through Enbridge’s liquids pipelines business on average, a reminder that the stock still leans on scale, not just sentiment. That volume matters because the company operates one of North America’s largest energy infrastructure networks across liquids pipelines, gas transmission, gas distribution, storage and renewable power generation assets.
Enbridge's $40 Billion Backlog
$40 billion in secured capital backlog gives the company a visible pipeline of work already in hand. Management is also pursuing roughly $50 billion in additional unsanctioned opportunities tied to evolving energy infrastructure needs, a separate pool that could extend growth if projects move forward.
US$0.7 billion for the Cone wind project in Texas and US$0.4 billion for the Tres Palacios natural gas storage expansion show where some of that capital is going. Enbridge expects to keep investing between $10 billion and $11 billion annually in growth projects, so the current share price is being supported by both cash generation and a long runway of spending.
Income, Growth, and Execution
5.2% is the yield investors get today while they wait for the backlog to turn into earnings. Nearly 21% is the one-year gain already built into the share price, so the stock is no longer priced like a neglected income name.
The practical question for investors is whether Enbridge can keep converting that spending plan into distributable cash flow at a pace that sustains the payout. If the first-quarter trend holds, the figures suggest the company can keep funding growth without losing the income case that brought many holders to the name in the first place.
