CA - Enbridge: Seize The Attractive Opportunity On This Pipeline Leader

2024-03-13 08:30:00 ET

Summary

• Enbridge Inc. investors have seen a revival in buying sentiments as ENB continues to grind higher.
• The company clarified its earnings growth profile through 2026, reducing execution uncertainties.
• Enbridge remains confident that substantial volume will be sustained from its Mainline system.
• The energy infra leader has diversified its midstream earnings profile with more stable utility-like earnings through natural gas assets.
• I explain why ENB's attractive valuation and price action bolster my confidence that the uptrend momentum should continue.

Enbridge Inc. ( ENB ) investors have enjoyed a remarkable revival in buying sentiments following the release of Enbridge's fourth-quarter earnings release in early February 2024. Accordingly, ENB bottomed out in early February after suffering a pullback from its January 2024 highs. As a result, dip buyers were assessed to have returned with conviction, corroborating the recovery of ENB's long-term uptrend momentum....

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