Enbridge (ENB.TO)

Very high dividend yield - ~6.5%.
Year end results very good, with dividend increase. 
Key infrastructure that is very hard to replicate (hard to build new pipelines).
Very cheap valuation at current price.

It's grown to a size, with the amount of debt it has, that it's hard to see what it's going to be. He used to think of ENB as a houseplant, just clip coupons on it. But it can't grow. Should cancel the dividend and pay down debt.

Due to the stability of the demands for their services and the strong barrier to entry in the utility industry, ENB revenue is really resilient across market cycles.
These advantages allow most utility companies to leverage their balance sheet. These are quite common practices in the industry. Interest rates moving up are a risk.
However, as of Q3-2022, the debt structure includes 90% fixed rates; the company is managing this risk quite well.
As ENB matures, growth in dividends also normalizes along with inflation rates, as their pricing adjustment is regulated by authorities.
Its reduced dividend growth guidance is likely part conservatism and part current conditions.
Although, we don’t expect ENB to grow and compound capital at a very high rate, going forward ENB is still attractive as a “bond proxy” for income investors.
Unlock Premium - Try 5i Free

The 6% dividend is safe. Well-run. Their main line is a major pipeline globally. Balance sheet fine. Have a $17 billion backlog of projecs which should increase that dividend in time. Growth lies ahead.

(Analysts’ price target is $58.10)

Likes it. They report Friday. Washington's stance on oil and gas hasn't helped stocks like Enbridge. It pays a 6.5% yield, supported by strong cash flow. Natural gas has swung from not enough to too much, high prices to low.

Not a lot of regulatory noise, for the first time in a while. He's expecting positive news on Maineline tolling. Core pipeline network is going to continue to fund a lot of free cashflow. Infrastructure expertise now has continental reach. Potential for energy funds to flow into Canada and ENB will benefit. He has about a 6% position. Over next 10 years, opportunity for total return of dividend plus capital appreciation is pretty great. Yield is 6.56%.

Very profitable, around market average. Balance sheet a bit stretched, stable revenue. Beautiful yield of 6.5%. Trades at 19x, a bit pricey. Likes it, but prefers TRP today on price.