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Where Will Enbridge Stock Be in 1, 3, and 5 Years?

Where Will Enbridge Stock Be in 1, 3, and 5 Years?

恩桥股票将在1、3和5年后位于何处?
The Motley Fool ·  10/08 08:30

For investors looking to capture the upside of cyclical sectors in this volatile environment, picking and choosing specific companies within given sectors can be the way to go. Indeed, not all energy stocks are even close to being the same. You've got producers, refiners, pipeline players such as Enbridge (TSX:ENB), and a host of other companies in the marketing and midstream space as well.

对于希望在这种波动环境中捕捉周期性板块上涨的投资者来说,选择给定板块内的特定公司可能是一种方式。事实上,并非所有能源股票都相似。您可以选择生产商、精炼商、像恩桥(tsx:ENB)这样的管道运营商,以及市场营销和中游空间中的许多其他公司。

In my view, investing in energy infrastructure companies like Enbridge is something worth considering. Pipeline operators tend to have very stable cash flows over very long periods of time, and companies like Enbridge continue to pay out a significant percentage of these cash flows back to investors over time. If you like capital return and high dividend yields over prolonged periods of time, this is a sector where investors can certainly find what they're looking for.

在我看来,投资于能源制造行业公司,比如恩桥,是值得考虑的。管道运营商往往在很长一段时间内拥有非常稳定的现金流,像恩桥这样的公司继续将这些现金流的重大部分回报给投资者。如果您喜欢资本回报和长期高分红派息,这是一个投资者肯定可以找到他们想要的板块。

That said, the question is just how high a stock like Enbridge can fly over the long term. Here are my one, three, and five-year projections for the stock.

话虽如此,问题就在于像恩桥这样的股票在长期内可以飙升多高。这是我对该股票的一年、三年和五年预测。

One-year outlook

一年前景

Enbridge's most recent performance has signalled that overall revenue growth remains intact, with 5.2% growth seen over the past year. Given that Enbridge's stock price has increased more than 28% over the past year while its revenue has grown just 5%, it's clear that some amount of multiple expansion is driving a great deal of the near-term price action in this stock.

从恩桥最近的表现可以看出,总体营业收入增长仍然保持完整,过去一年增长了5.2%。鉴于恩桥的股价过去一年增长超过28%,而营业收入仅增长了5%,很明显,某种程度的多重扩张正在推动该股票的短期价格行动。

Thus, I think investors taking a near-term view of Enbridge stock need to consider whether momentum is the factor they want to trade off of. An argument could be made that this stock is fairly valued at present, and there could be some downside risk here. But if momentum is what you're after from a trading perspective, this could be a stock that makes sense.

因此,我认为采取对恩桥股票持近期观点的投资者需要考虑动量是否是他们想要进行交易的因素。可以说,目前这支股票的估值是公平的,并且可能存在一些下行风险。但是,如果从交易角度来看,您追求的是动量,这支股票可能是合乎逻辑的选择。

Three and five-year outlooks

三年和五年展望

Over the medium term, I think Enbridge stock certainly looks more attractive. That's partly due to the fact that Enbridge has traded near this multiple in the past, and 21 times earnings isn't necessarily overly expensive for the quality of cash flows investors gain access to by investing in this pipeline giant.

从中期来看,我认为恩桥股票肯定更具吸引力。部分原因是恩桥在过去曾接近过这个多重,以及相对于投资于这家管道巨头所获得的现金流质量而言,21倍的市盈率并不一定过于昂贵。

I think Enbridge should be able to see some earnings growth acceleration in coming years, particularly if energy prices remain robust and the company's ability to increase prices on its core customer base increases. If that's the case, I think Enbridge stock could easily match this year's annual performance over the next three years, and grow as much as 50% over the next five years. This is a company I think has the potential to roughly double every decade or so (inclusive of dividends). But, of course, plenty of risks will likely materialize over such a long-term journey, making timing any position difficult.

我认为恩桥未来几年应该能够看到营业收入增速加快,特别是如果能源价格保持强劲,并且公司能够提高核心客户群体的价格。如果是这种情况,我认为恩桥股票在接下来的三年内很容易匹配今年的年度表现,并且在接下来的五年内增长多达50%。我认为这家公司有潜力每十年左右翻一番(包括分红)。当然,在这样漫长的旅程中可能会出现许多风险,使得任何头寸的时机难以把握。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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