Enbridge (ENB.TO)

Valuation attractive. Investment-grade credit rating. He has no issues with level and structure of debt. Attractive opportunity for someone looking for income, especially during a recession. 10x cashflow, dividend yield above 6%.

High barriers to entry. Serves 75% of Ontario residents. Predictable growth of 5-7% over the next 2 years. Profitable, recurring revenue. Impressive yield of 7.5%. Multiple of 17x earnings. Buy here, wait for rebound to $60. Quite a bit of debt.

Strong dividend yield that is very safe.
Legacy assets that are valuable.
Not much growth (no more pipeline construction).
Good for income oriented investors.
Well run company.

Dividend will be maintained, forecast to grow mildly at 2-3% a year. Major dividend growth holding for him. Selloff directly correlated to rise in interest rates. Issue is ability to grow as we move away from petroleum. Funds with ESG constraints may not buy it.

Likes pipelines for income, though they've pulled back with the pullback in commodities. Safe, attractive yield.

Are working on a pipeline network to transfer CO2 so it can be safely stored.

The dividend is probably safe and is in the 60 to 70% payout range The risk is that it is heavily indebted like all utility companies. It is best for dividend, not for growth.

His preference in the pipeline space. Recovered from 2 of its 3 issues, expects #3 to be resolved as well. Trading at 14.2x. Better value and fewer variables than with TRP. Yield is 7.2%.

Likes energy infrastructure as a highly attractive area and a key part of the energy transition. His preference in the space.

ENB has much higher quality assets and better locations. PPL has more volatility in earnings and rumoured to be interested in TMX pipeline, which is an overhang. PPL is a good company, dividend safe. But he still prefers TRP and ENB. 

Energy infrastructure stocks have been beaten up to the point where dividends are high, but you don't need to be scared of that. Rock solid. Paying down debt from free cashflow and asset sales. Debt's 4.5x, which isn't bad for energy infrastructure. Committed to increase dividend. Great projects in pipeline and great free cashflow. Can't replicate assets. Into renewables. More stable than oil & gas companies.

Pays a great dividend, but shares have been beaten up. Only 4.5% growth trades at 16x. They just beat their EBITDA by 3% and reiterated 2023 outlook. The market is concerned about forward weakness and line 5 has been an issue. But shares are too cheap to ignore. Buy.

Don't worry about the pullback, as markets are down. Peers are down too. He wouldn't put more money in. Terrific, necessary assets. Canada's safe and secure energy will now have access to the world. You'll do OK over the long term. Expects dividend increase. He prefers KEY and PPL.

Carry too much debt, and what will they do with their dividend? Is it worth the risk to buy a stock with a high dividend, but the share prices can decline, when you can buy a GIC at, say, 5%. Regulated cash flow that utilities enjoy can't suddenly raise customer rates.

Strong business with excellent assets (hard to replicate).
Safe dividend yield ~7%.
Defensive stock good for long term investors.
Investors paid to wait for capital growth.
Security of supply with fixed term contracts. 

Share price reflects general selloff in energy. Earnings and cashflow grow even in times of weakness. Great defensive business model. High dividend yield. Generates very strong cash. Reasonable valuation. Hold, and consider adding. No payout ratio red flags, despite yield around 7%.