If you are looking for dividend deals, these three reliable passive income stocks have you covered if you can think like a contrarian.
ENB has invited certain indigenous communities in Canada to a meeting to discuss the agreement in Edmonton, Alberta, to sell a stake in some of its pipelines in November this year.
The world will continue to need a lot of energy in the coming decade.
In the latest trading session, Enbridge (ENB) closed at $41.54, marking a -1.05% move from the previous day.
The energy infrastructure giant's evolution should continue.
In early 2022, the Fed's aggressive monetary tightening made yield-bearing assets like REITs, MLPs, and BDCs more attractive. Higher base rates pushed down multiples for blue-chip stocks, despite growing cash flows, creating opportunities for durable income investors to lock in high yields. The Fed's recent 50 basis points rate cut and expectations of further cuts have increased asset valuations, reducing the opportunity set.
Enbridge (ENB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The stocks offer a good mix of value, growth, and dividend income.
In the closing of the recent trading day, Enbridge (ENB) stood at $41.15, denoting a +0.19% change from the preceding trading day.
Enbridge has an exceptional record of growing value for its investors.
Enbridge's fixed rate perpetual preferred shares are a "hold" due to their lower yields compared to resettable preferred shares and common stock. Enbridge's distributable cash flow is strong, covering preferred dividends with less than 4% of DCF, ensuring dividend security for preferred shareholders. The Series A preferred shares, yielding approximately 6%, are less attractive than common stock and Series 3 preferred shares, which offer higher returns.
Enbridge has rallied significantly since I last covered it earlier this year and rated it a Buy. I re-examine the investment thesis in this article. I also compare it to TC Energy, which I previously preferred to ENB and has significantly outperformed ENB over the past year.