TD Securities raises target for Enbridge stock to C$83

Published on 10/19/2026 at 09:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Permian gas opportunities shaped the October 16 review. Enbridge stock costs EUR 42.90 on October 19, 2026 before November 6 results.

Growth and reporting calendar

TD Securities lifted its Enbridge target to C$83 on October 16, 2026.
Adjusted EBITDA reached C$4.8 billion in the second quarter of 2026, up 2.8 percent year over year.
Enbridge stock trades at EUR 42.90 at 9:11 a.m. CEST at Lang & Schwarz on October 19, 2026.

ENB, CA29250N1050, Illustration mit AI erstellt.

Enbridge (ISIN CA29250N1050) received a higher price target from TD Securities, which lifted its target from C$81 to C$83 on October 16, 2026, according to Markets Insider. The analyst cited opportunities from Permian dry gas growth in its third-quarter earnings preview. Enbridge stock was trading at EUR 42.90 at Lang & Schwarz on October 19, 2026 at 9:11 a.m. CEST.

Results support the valuation

Enbridge's second-quarter 2026 operating picture combined higher cash generation with a weaker reported earnings line. According to Zacks, adjusted EBITDA increased 2.8 percent year over year to C$4.8 billion, while adjusted earnings declined 2.5 percent to C$1.4 billion. Distributable cash flow rose 1.6 percent to C$2.95 billion, and distributable cash flow per share increased to C$1.35 from C$1.33.

The reported revenue jump needs context. Total revenue reached C$21.2 billion in the second quarter of 2026, up 97.1 percent from C$10.8 billion, but the increase was driven largely by commodity marketing sales with thin margins. Enbridge's four operating businesses therefore offer a more useful valuation lens than revenue alone.

What does the backlog mean?

Enbridge had a secured capital backlog of C$41 billion after the second quarter of 2026 and reaffirmed adjusted EBITDA guidance of C$20.2 billion to C$20.8 billion for 2026, according to Stocknextt. The company had sanctioned about C$9 billion of projects during 2026 and was targeting as much as C$20 billion of new projects during 2026 and 2027. For investors, the combination of backlog visibility and higher financing costs is central to the target increase.

Three events set the timeline

On July 31, 2026, Enbridge reported second-quarter results and reaffirmed its 2026 guidance through its investor-relations release. On September 9, 2026, the company agreed to acquire Tallgrass Energy's crude business for USD 2.55 billion in cash, according to Stocknextt.

On October 16, 2026, TD Securities raised its target from C$81 to C$83, according to Markets Insider. The next scheduled reporting event is the third-quarter results webcast on November 6, 2026, as listed by Gekko.

Valuation meets execution risk

Enbridge's market capitalization was USD 107.2 billion on October 16, 2026, while its NYSE 52-week range was USD 45.03 to USD 58.45. The company operates oil and gas pipelines, regulated gas utilities and renewable power assets, giving the target decision exposure to both contracted infrastructure cash flows and capital-intensive expansion.

Stock price and next date

The stock was trading at EUR 42.90 at Lang & Schwarz on October 19, 2026 at 9:11 a.m. CEST. The November 6, 2026 results date is the next scheduled company event.

The further course of trading is shown by the continuously updated real-time quote of Enbridge stock.