2 Stocks I Like Better Than Enbridge for Long-Term Growth
Enbridge (TSX: ENB) has faced pressure due to a natural gas leak and legal challenges, causing a 13% decline from its 52-week high. The Motley Fool's Rajiv Nanjapla prefers Dollarama (TSX: DOL) and Waste Connections (TSX: WCN) for long-term growth. Dollarama, a discount retailer, has expanded its store network and delivered a 460% return over the past decade. Waste Connections, a waste management company, reported strong Q2 results and raised its 2026 guidance.
How this was made
The 30-second read
Why it matters
For traders, the only potentially decision-relevant items are WCN’s guidance-updated midpoint implications and the Q2 margin/earnings growth figures; ENB’s leak/legal mention is a risk headline but lacks new case specifics; DOL is mainly a target-and-expansion narrative.
Market read
This is primarily a long-term comparison/opinion piece, with WCN containing the most concrete near-term fundamental update (guidance raise after Q2).
What to watch
No valuation multiples, balance-sheet leverage details, or sensitivity to commodity/interest-rate moves are provided; for WCN, RNG economics and permitting timelines could affect the margin story.
Background
The article contrasts Enbridge’s recent weakness (leak/legal headlines) with two alternative long-term Canadian picks, Dollarama and Waste Connections, emphasizing growth runway and operational execution.
Ticker impact
The article says Enbridge is under pressure from reports of a major natural gas liquids leak on its Line 5 project and ongoing legal challenges.
Likely keeps ENB trading capped until leak/liability details and legal outcomes clarify.
The piece frames recent weakness as catalyst-driven (leak/legal), but provides no new legal filing, settlement, or quantified damages.
Waste Connections is said to have raised 2026 guidance after Q2 results, with revenue and adjusted net income growth implied at 6% and 8.7% YoY at the midpoint.
Could sustain upward momentum if investors treat the guidance raise as credible and follow through on acquisition/RNG execution.
The article provides concrete Q2 performance metrics and a guidance-updated midpoint implication, which is actionable for positioning.
Market effects
Highlights risk and resilience themes in North American infrastructure (midstream) versus defensive growth in discount retail and pricing-power in waste management.
Primarily Canada-listed names with US operating exposure for WCN.
Limited, as the catalysts described are company-specific rather than global macro shocks.
Counterpoint
The piece may over-weight long-term narratives and under-weight the uncertainty around Enbridge’s Line 5 leak/legal path, while treating WCN guidance as durable without discussing execution risks in acquisitions and RNG.
Key entities
- public_companyEnbridge
Midstream operator discussed as pressured by Line 5 leak reporting and legal challenges.
- public_companyDollarama
Discount retailer discussed with store expansion targets and Dollarcity ownership optionality.
- public_companyWaste Connections
Waste management company discussed with Q2 results, raised 2026 guidance, and RNG facility plans.
