Enbridge's Five-Year Investment Returns Driven by Dividends and Infrastructure Expansion

Enbridge has underperformed the S&P 500 in stock price over the last three and five years, except for the past year. However, including its 5.8% dividend yield, the company's total return has outpaced the broader market index.

Enbridge has expanded its North American energy infrastructure through significant investments in organic capital projects across its four core franchises: liquids pipelines, gas transmission, gas distribution, and power. Recent developments include expanding oil pipelines, constructing new natural gas pipelines, and advancing renewable energy projects, particularly offshore wind in Europe. In 2023, Enbridge completed a $14 billion acquisition of three U.S. natural gas utilities from Dominion, enhancing its gas distribution platform and diversifying its earnings mix.