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Analysts Raise Price Targets for Enbridge (ENB)

Enbridge Inc. (NYSE:ENB) is included among the 10 Best Renewable Energy Dividend Stocks to Buy Now.

Enbridge Inc. (NYSE:ENB) is a midstream energy operator that focuses on transporting and distributing oil, natural gas, and natural gas liquids. The company has also committed more than $8 billion in capital to renewable energy projects currently in operation or under construction.

Enbridge Inc. (NYSE:ENB) received a boost on November 10 after attracting positive attention from a number of analysts. RBC Capital analyst Maurice Choy raised the stock’s price target from C$67 to C$72, while maintaining an ‘Outperform’ rating on its shares. Moreover, National Bank analyst Patrick Kenny also raised the firm’s price target on ENB from C$65 to C$66, while keeping a ‘Sector Perform’ rating on its shares. Finally, BMO Capital also raised its price target on Enbridge Inc. (NYSE:ENB) from C$66 to C$67 and kept a ‘Market Perform’ rating on the shares.

That said, Enbridge Inc. (NYSE:ENB) reported mixed results for its third quarter recently, with its adjusted EPS of $0.33 falling short of estimates by $0.04. However, the company’s revenue of $10.43 billion managed to exceed expectations by a significant $2 billion. Enbridge also announced a quarterly dividend of C$0.9425 per share.

Gregory Abel, President and CEO of Enbridge Inc. (NYSE:ENB), stated the following regarding the company’s renewables segment in the Q3 earnings call:

“Renewable projects have been a great place to invest in the last few years, driven by strong PPA prices, decreasing supply costs, and the associated tax benefits. The four projects on this slide showcase over 2 gigawatts of power backed by agreements with some of the largest technology and data center players in the world, including Amazon and Meta. Fox Squirrel and Orange Grove are currently operational. Sequoia Solar will fully enter service in 2026 and Clear Fork will follow entering service in 2027. Looking ahead, we still have a number of projects in the queue that we’re advancing. But as always, we’ll remain opportunistic and continue to stand by our strict investment criteria.”

While we acknowledge the potential of ENB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENB and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Best Utility Stocks to Buy for Dividends and 11 Best High Yield Energy Stocks to Buy Now.

Disclosure: None.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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