If you’re thinking of investing in Enbridge stock in 2023, you should be aware of the company’s overall performance, its dividend growth rate, and current energy market changes. These factors quite clearly demonstrate why Enbridge has traditionally been a great investment and why it will remain so in the future.
Check out our article on the Best Canadian Pipeline Stocks for more details on comparable options. Check out our article on Canadian Dividend Kings if you’re looking for additional dividend stocks like Enbridge in various industries.
WANT TO BUY SHARES IN ENBRIDGE? Analysis, performance, and cost
- Price of Enbridge Stock: 48.64
- 7.25% dividend yield
- Ratio of Price to Earnings (P/E): 41.51
- Increase in EPS over the past five years: -3.23%
- 5.3% annual dividend growth
- Ratio of payout: 271.26%
OUR ENBRIDGE STOCK ANALYSIS
Our research of the Enbridge stock suggests that Enbridge is a great investment. We can see that because of its excellent positioning within the Canadian pipeline industry, it offers a compelling prospect for long-term investment.
We don’t anticipate Enbridge’s dividend yield, which is relatively strong at 7%, to decline any time soon. As a result of the energy crisis, we anticipate a recovery in the stock price and continued high demand for oil.
We suggest consulting our guide on the top long-term investments in Canada to learn more about investing in long-term purchases.
SHOULD I BUY ENBRIDGE STOCK RIGHT NOW?
Enbridge is a company whose pipelines move almost a third of the oil produced in Canada and the United States, so when you buy Enbridge stocks, you know what you’re getting. It’s always advisable to keep Enbridge in your portfolio when there is a market advantage of that size.
In spite of a slowdown in global GDP growth and higher carbon taxes, it’s anticipated that Canadian LNG production will set new records in 2023. There is no doubt that Enbridge will gain a lot from this as a pipeline company. Enbridge won’t be the only company vying for market share, it’s important to remember; recently, a price war in Alberta has been brewing as a result of Enbridge slashing its prices.
Check out our list of the Best Renewable Energy Stocks if you’re looking for energy stocks that are less reliant on the price of oil.
Recent developments include Enbridge’s acquisition of a 30% stake in a brand-new LNG project in British Columbia just last year, demonstrating the company’s continued diversification beyond the oil pipeline industry. Enbridge announced its capacity request for two gas transportation routes more recently. This shows that the business is taking a pro-active stance in securing potential business opportunities and growing its operations within the gas transportation industry.
Overall, we have faith that even in today’s competitive markets, Enbridge will offer investors dependable returns. Despite the fact that past performance is not a guarantee of future results, we think Enbridge’s management will successfully handle upcoming difficulties.
How To Buy Enbridge Stocks
If you want to purchase Enbridge, you can do so through Canadian online brokerage services.
For the benefit of our readers as they choose a broker, MDJ prioritizes focused on discount brokerages. We consistently make sure to update our list of the best online brokerages in Canada, providing readers with not just the greatest overall recommendations but also some of the best promotional offer codes currently available on the market.
The process of purchasing Enbridge shares, or any other equities for that matter, is made simple after you have signed up for an online brokerage account. Simply enter the ticker symbol—in this case, “ENB”—in the search area, then decide how many shares you want to purchase.
Take the case where you wish to invest $5,000 in ENB shares and the price of Enbridge stock is $50 right now. You would input “100” and choose “market limit,” after which your online broker would ask you if you wanted to purchase 500 shares of ENB at a price of $50 each.
Your online broker will take care of the remaining stages once you confirm the order. You now possess a stake in one of Canada’s biggest pipeline firms, congratulations! a financial commitment that we advise long-term holding.
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ENBRIDGE STOCK HISTORICAL DIVIDEND PERFORMANCE
The graph depicts how Enbridge’s dividend has steadily climbed along with its income over the past few years. Because of this regular growth, Enbridge’s management and market share in the Canadian pipeline business are projected to continue over the long term, which gives me confidence as an investor.
I have a lot of faith that Enbridge will regularly produce strong dividend yields. Due to the rising demand for energy in both Canada and the United States, I’m also rather certain that the Canadian pipeline industry will continually provide returns to its investors.
Check out our most recent list of the Best Canadian Dividend Stocks for more information on dividend investing, and our guide to Canada’s Best Energy Dividend Stocks for investments that are similar to Enbridge.
As someone who makes investments for the future, I place more importance on continuous growth than on quick monetary gains. Enbridge, in this instance, has given a reasonable 3.8% annual dividend increase rate. With the TC Energy Corporation’s dividend growth rate at 5.8% and the Pembina Pipeline Corporation’s significantly lower 1.9%, Enbridge is currently in the middle of its peer group.
I often use Dividend Stocks Rock (DSR) as a resource for dividend investing when I’m seeking for a thorough study to compare dividend companies that includes cutting-edge statistics and a wider selection of stock alternatives.
ENBRIDGE STOCK FORECAST
Enbridge reported first-quarter 2023 financial results on May 5 and reported adjusted earnings of $1.7 billion. Compared to the same time in 2022, this number has remained largely steady.
Enbridge keeps up a healthy project pipeline, suggesting a bright future for expansion. Enbridge exemplifies a dedication to provide its stockholders consistent dividend payments as one of the dependable dividend stocks listed on the TSX.
See our article on the Dogs of the TSX for additional details on the stocks listed on the TSX.
Enbridge has a track record of delivering shareholder pleasure, giving investors hope for the future. It is crucial to consider the company’s consistent track record of performance and its capacity to overcome future challenges when evaluating Enbridge stock for 2023.
The forecast is encouraging if you’re debating whether Enbridge will be a wise investment in 2023. This depends on the macroeconomic environment and trends in the energy sector, but Enbridge is well-positioned for long-term growth and stability thanks to a strong foundation and strong management. Check out the Best ETFs in Canada for 2023 if you’d rather adopt a passive investment strategy than choose individual equities.
