31st consecutive annual dividend increase. Can Enbridge stock extend gains?

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Enbridge up 0.89% today at C$78.03

Highlights

Enbridge increased its dividend for the 31st consecutive year, underscoring robust profitability and attracting income-focused investors.
The company reaffirmed 2026 targets for adjusted EBITDA and distributable cash flow in its fee-based energy infrastructure segment, supporting earnings visibility.
ENB/CAD trades in a bullish long-term trend above key supports, with an expected range of C$76.94 to C$79.08 despite mixed momentum signals.

Dividend increase and earnings guidance boost yield appeal

Enbridge has announced its 31st consecutive annual dividend increase, a move that raises the stock's yield appeal and demonstrates the company's standing profitability, according to Simplywall. This action supports the attraction of income-focused investors and adds to overall valuation stability. Additionally, Enbridge reaffirmed its 2026 adjusted EBITDA and distributable cash flow targets for its fee-based energy infrastructure business, helping to anchor longer-term expectations around the company's earnings profile.

Mixed momentum as price tests overbought with strong supports

On the H1 timeframe, ENB is trading above both the MA-20 at C$77.57 and the MA-50 at C$77.12, with price staying firmly above the MA-200 at C$70.99 on the daily chart. The Ichimoku Kijun line at C$77.69 acts as immediate support. Momentum signals are mixed: the Moving Average Convergence Divergence (MACD) highlights strong selling pressure, while the Average Directional Index (ADX) is neutral. Relative Strength Index (RSI) sits at 58.53 and Commodity Channel Index (CCI) both suggest a buy. However, Stochastic RSI and Bull/Bear Power indicate overbought intraday conditions, while the Awesome Oscillator remains neutral.

Sideways bias favored as volatility defines near-term range

Looking ahead to the next several sessions, ENB is likely to range between C$76.94 and C$79.08, reflecting typical volatility relative to current levels. The probability of another upward move is estimated at 71%, making a downside move less likely. If the price maintains its position within this band, expect continued sideways trading; a break above resistance would favor a bullish scenario, while a drop below the Ichimoku Kijun support could prompt a bearish move.

Anton Kharitonov, expert at Traders Union, sees Enbridge’s 31st annual dividend hike as a positive sign for shareholders, but he remains wary of near-term upside. He notes technical signals are mixed, with overbought momentum and neutral oscillators limiting conviction. Until price breaks above C$79.08 or loses support at C$77.69, he expects limited direction. "My approach is to stay cautious here — I’ll need to see more decisive momentum before considering any position."

Earlier, analysts noted that Enbridge was experiencing mixed technical momentum and a higher probability of near-term consolidation, with traders advised to monitor for a decisive directional move. The company’s latest dividend increase and reaffirmed financial targets now add a supportive fundamental backdrop, so traders should watch for a sustained breakout above recent resistance to confirm a bullish shift in trend.

Source of Data: ENB Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.