Enbridge Shares Up 22.9% in a Year: Should You Buy the Stock or Wait?

Enbridge Inc. (ENB) shares have risen 22.9% over the past year, outperforming peers, and are approaching their 52-week high. The company boasts a stable business model with 98% of its EBITDA backed by long-term “take-or-pay” contracts, a 31-year dividend growth streak, and a significant project backlog. However, with a trailing 12-month EV/EBITDA of 16.48X compared to an industry average of 14.84X, the stock appears overvalued, suggesting investors might do well to wait for a better entry point, though existing holders could retain shares.