At first glance, Enbridge (ENB) seems a very reasonable idea amid the confusing market backdrop. As a midstream energy operator, the company specializes in storage and transportation services. However, the hydrocarbon focus might seem to imply a race against relevance for ENB stock. After all, the political and social winds favor clean and renewable energy integration.
At the same time, electric vehicles are expensive relative to their combustion-powered counterparts. Even with a sector-wide price war, the accessibility hasn’t come down to the point where middle-income consumers can readily afford EVs. As of the latest data, the average age of passenger vehicles on U.S. roadways hit a record 12.5 years.
