10 Oil Stocks with Biggest Upside Potential According to Analysts

3. Enbridge Inc. (NYSE:ENB)

Upside Potential: 42.85%

Number of Hedge Fund Holders: 26

Enbridge Inc. (NYSE:ENB) is a leading energy infrastructure company that operates in the liquids pipelines, gas transmission, gas distribution and storage, and renewable power sectors. The company’s business model is centered around providing critical energy infrastructure services to its clients, including major oil and gas producers, refineries, and power generators. Enbridge Inc.’s (NYSE:ENB) extensive network of pipelines, storage facilities, and renewable energy assets enables it to transport and deliver energy products to markets across North America.

One of the key drivers of Enbridge Inc.’s (NYSE:ENB) growth is its liquid pipelines business. The company has recently acquired two additional docks and land adjacent to its Enbridge Ingleside Energy Center (EIEC) facility, which is one of the largest crude oil storage and export terminals in the US and will enable optimization of its existing docks and increase Very Large Crude Carrier windows.

Enbridge Inc.’s (NYSE:ENB) gas transmission business is also a significant contributor to its growth, with the company recently acquiring a 15% interest in the Delaware Basin Residue (DBR) natural gas system, which serves as a key conduit for the Whistler Pipeline.

Enbridge Inc. (NYSE:ENB) is also making significant investments in renewable energy, with the recent sanctioning of the Sequoia Solar project, a two-phase 815MW solar farm in Texas. The project is substantially contracted under long-term fixed-price power purchase agreements with strong investment-grade counterparties, including AT&T and Toyota.