Enbridge Inc (ENB) is overvalued and Enterprise Products Partners L P (EPD) is slightly undervalued.
Against our estimates of intrinsic value, EPD trades at the wider discount: a margin of safety of +13%, against -89% for ENB.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $25.31; the price of $47.90 is 89% above that value, and 83% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 7.7% (average of 3 methods) values the shares at $43.82; the price of $38.01 is 13% below that value, and 81% of that value comes from beyond year five.
Leak Score 54/100 on 9 of 12 signals
| Metric | ENB | EPD |
|---|---|---|
| Verdict | Overvalued | Slightly undervalued |
| Price | $47.90 | $38.01 |
| Intrinsic value | $25.31 | $43.82 |
| Margin of safety | -89% | +13% |
| Leak Score | 0/100 (2/12) | 54/100 (9/12) |
| Market cap | $106.5B | $82.1B |
| Revenue growth, 5 years | 10.0% | 14.3% |
| Operating margin | 13.3% | 12.5% |
| Net margin | 6.8% | 10.7% |
| Return on equity | 9.4% | 21.1% |
| Debt to equity | 1.72 | 1.13 |
| P/E | 25.4x | 13.2x |
| Forward P/E | 20.6x | 11.9x |
| P/B | 2.5x | 2.7x |
| Dividend yield | 5.8% | 5.9% |