Argus Raises Enbridge Inc. (ENB) Price Target, Views Dividend as Safe

Enbridge Inc. (NYSE:ENB) ranks among the best stocks to buy for retirement. On August 12, Argus maintained its Buy rating on Enbridge Inc. (NYSE:ENB) and boosted its price target to $54 from $50. The firm highlighted Enbridge’s varied pipeline assets, expanding utility business, and low exposure to commodities and volume as important elements that position the company for success in the current energy landscape.

Argus emphasized Enbridge’s substantial infrastructure network for both crude oil and natural gas transportation, stating that the company generates consistent cash flow and can engage in significant stock buybacks.

The firm also pointed towards Enbridge’s dividend yield, which it views as “safe and sustainable,” establishing the Calgary-based company as a leading equities choice for investors looking for income.

Enbridge Inc. (NYSE:ENB) is a midstream energy company that specializes in the distribution and transportation of natural gas, oil, and natural gas liquids.

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Disclosure: None. This article is originally published at Insider Monkey.