Enbridge shares slide about 14% from 12-month high as dividend yield rises to 5.6%
The article highlights Enbridge's share pullback and renewed focus on dividend income, supported by a large secured capex backlog and recent pipeline expansion and Permian asset acquisition. Incremental demand themes include U.S. gas-fired generation for AI data centers and broader North American gas utility scale. Offsetting risks include interest-rate sensitivity due to leverage and regulatory uncertainty around the Line 5 pipeline.
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Enbridge shares are trading near C$69, down from a 12-month high above C$80, lifting the dividend yield to 5.6%. The company has already sanctioned C$9 billion in growth projects in 2026 and is advancing a C$41 billion secured capital program. It has also announced a C$2.7 billion expansion of the Westcoast natural gas pipeline system in British Columbia and agreed to buy Permian Basin oil infrastructure assets for US$600 million.