Enbridge Inc.

NYSE:ENB Stock Report

Market Cap: US$94.2b

Enbridge Valuation

Is ENB undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ENB when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ENB ($43.26) is trading below our estimate of fair value ($48.1)

Significantly Below Fair Value: ENB is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ENB?

Key metric: As ENB is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ENB. This is calculated by dividing ENB's market cap by their current earnings.
What is ENB's PE Ratio?
PE Ratio21x
EarningsCA$6.29b
Market CapCA$131.71b

Price to Earnings Ratio vs Peers

How does ENB's PE Ratio compare to its peers?

The above table shows the PE ratio for ENB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.7x
WMB Williams Companies
25.2x3.0%US$72.7b
KMI Kinder Morgan
25.1x8.1%US$63.3b
OKE ONEOK
24.4x11.0%US$68.4b
EPD Enterprise Products Partners
12.3x4.6%US$71.1b
ENB Enbridge
21x9.0%US$131.7b

Price-To-Earnings vs Peers: ENB is good value based on its Price-To-Earnings Ratio (21x) compared to the peer average (21.7x).

Price to Earnings Ratio vs Industry

How does ENB's PE Ratio compare vs other companies in the US Oil and Gas Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AXAS Abraxas Petroleum
0.09xn/aUS$10.27m
BYRO.F Byron Energy
0.03x-10.3%US$312.17k
USOP.Y U.S. Oil and Gas
n/an/aUS$6.00
No more companies available in this PE range
ENB 21.0xIndustry Avg. 11.6xNo. of Companies18PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ENB is expensive based on its Price-To-Earnings Ratio (21x) compared to the US Oil and Gas industry average (11.6x).

Price to Earnings Ratio vs Fair Ratio

What is ENB's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ENB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21x
Fair PE Ratio15.4x

Price-To-Earnings vs Fair Ratio: ENB is expensive based on its Price-To-Earnings Ratio (21x) compared to the estimated Fair Price-To-Earnings Ratio (15.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ENB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$43.26
US$42.02
-2.9%
9.9%US$48.68US$27.20n/a20
Nov ’25US$40.42
US$40.98
+1.4%
9.5%US$45.86US$27.23n/a20
Oct ’25US$41.14
US$40.56
-1.4%
9.1%US$45.13US$27.37n/a19
Sep ’25US$40.18
US$40.58
+1.0%
9.1%US$45.37US$27.52n/a19
Aug ’25US$37.60
US$38.67
+2.8%
10.4%US$44.03US$24.54n/a19
Jul ’25US$35.27
US$39.00
+10.6%
10.3%US$44.58US$24.85n/a19
Jun ’25US$36.58
US$39.13
+7.0%
10.4%US$44.80US$24.23n/a22
May ’25US$35.59
US$38.39
+7.9%
10.6%US$43.79US$24.09n/a22
Apr ’25US$35.83
US$39.00
+8.8%
9.9%US$44.33US$25.86n/a22
Mar ’25US$34.80
US$38.96
+12.0%
10.4%US$44.42US$25.17n/a22
Feb ’25US$35.86
US$39.44
+10.0%
10.6%US$46.27US$26.12n/a21
Jan ’25US$36.02
US$37.81
+5.0%
12.9%US$44.89US$25.02n/a19
Dec ’24US$35.18
US$37.95
+7.9%
12.6%US$44.27US$25.19n/a19
Nov ’24US$32.40
US$37.50
+15.8%
11.2%US$43.27US$29.14US$40.4219
Oct ’24US$33.19
US$40.52
+22.1%
9.6%US$47.38US$29.92US$41.1418
Sep ’24US$35.51
US$41.67
+17.4%
5.7%US$46.31US$38.23US$40.1819
Aug ’24US$36.36
US$43.78
+20.4%
6.4%US$49.11US$39.29US$37.6019
Jul ’24US$37.15
US$44.26
+19.1%
6.4%US$49.24US$39.39US$35.2719
Jun ’24US$36.22
US$43.09
+19.0%
5.9%US$48.13US$38.50US$36.5820
May ’24US$39.56
US$42.92
+8.5%
6.1%US$48.01US$38.41US$35.5920
Apr ’24US$38.15
US$42.15
+10.5%
6.4%US$47.24US$37.79US$35.8320
Mar ’24US$38.01
US$42.66
+12.2%
6.4%US$47.80US$38.24US$34.8021
Feb ’24US$40.72
US$43.63
+7.1%
6.8%US$48.85US$39.08US$35.8621
Jan ’24US$39.10
US$42.54
+8.8%
6.6%US$47.60US$38.08US$36.0221
Dec ’23US$40.96
US$43.25
+5.6%
6.5%US$48.39US$38.71US$35.1821
Nov ’23US$38.92
US$42.77
+9.9%
6.8%US$47.78US$38.96US$32.4021

Analyst Forecast: Target price is lower than the current share price.

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