Enbridge shares near 52-week high with 26% upside potential, rated buy on strong cash flow and growth projects.

Enbridge shares are trading close to their 52-week high, with a current price of $55.94 and a price target of $70.51, suggesting a 26% upside over the next year. The company reported strong Q1 2026 results, including $3.85 billion in distributable cash flow, driven by stable mainline volumes and expanding data center projects. Enbridge's secured backlog is C$40 billion with additional opportunities, supported by a 31-year dividend growth streak and a 6.9% yield. Risks include high leverage at 5.0x debt-to-EBITDA and potential regulatory or project delays, but the outlook remains positive for investors seeking income and growth exposure.