Enbridge (ENB.TO)

Q1 EPS of $1.03 beat estimates of 96c; revenue of $18.5B beat estimates handily. EBITDA of $5.82B beat estimates by 4.9%. 2025 guidance was affirmed. It was a broad 'beat' across the board. EBITDA rose 18%. EPS rose 12%. Distributable cash rose 9.1%. We would consider the results very strong.
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Great income investment with its great dividend yield. Plans to expand main line and continue capex. Returning $$ to shareholders. Has become more US-based. Great story, continues to execute well, plans in place for future.

Canadian infrastructure name. She owns for income in client portfolios. Robust business model. Often has long-term, take-or-pay contracts; visible cashflow stream. Guided that it can grow EBITDA (cashflows) by single digits over next few years. She'd expect dividend increases to reflect that. 

Stock's pulled back with underlying commodity prices. Should have lower volatility than energy producers. Yield is ~6%.

It's hard for a non-expert to get a handle on how embedded energy infrastructure in NA really is. A lot of the oil coming from Canada into the US can't easily be replaced. Even if the US does produce a lot of oil itself, there are many factors to consider: where does it need to go, where does it need to be refined, and what grade is it. It's not like an on/off switch.

Largest oil pipeline operator in Canada. Pipelines are still the cheapest and fastest way to transport. Cheaper than rails. From what she understands, it doesn't seem that the pipelines themselves will be hit by tariffs. Recent move in the CAD would mitigate any tariff impact; even if not, the US depends on oil in this pipeline, so volume likely wouldn't be disrupted. Yield is 6%.

Oil price doing a bit better. Pipeline/utility mid-cap part of energy has done extremely well, holding up better than the producers. Great run second half last year, now sideways range. This is normal consolidation. Acting extremely well, very well supported, picking up within its current trading range.

Still sees strong growth ahead. Expanding in all its divisions. Doesn't see tariffs disrupting the US-Canada oil trade too much. Earnings growth targets are achievable. Still upside of 8-9% from here.

They transport 3 million barrels of oil from Canada into the US each day, a major reason why North America is self-sufficient. It pays a 6.3% yield. ENB is big beneficiary of Trump's oil/has de-regulation. They won't be hit by tariffs, because they don't produce or market oil, but transports it. 

Prefers TRP. Still, a mighty solid company and second-best of this peer group. This pullback is buyable. Yield is ~6.3%, growing at about a 3% over last 5 years (significant slowdown from a decade ago). Good line of sight to high single-digit total shareholder return. 

Not particularly cyclical or prone to fluctuating commodity prices; 90+% of business is rate-regulated and take-or-pay. Slowly greening the company.

The challenge with pipelines is they have run up recently and that has ended. Technical support is $50-55, so there's more downside to come. The federal election could change things.

The challenge with pipelines is they have run up recently and that has ended. Technical support is $50-55, so there's more downside to come. The federal election could change things.

It has been a very good year so far but people are worried about tariffs and unpredictability. However pipelines are safer with regard to tariffs. Pipelines find it difficult to do business in Canada with limited growth due to regulations but they do better in the U.S.

This is her pick today for income. Operates largest liquids pipeline around the world. Transports 30% of crude oil produced in NA. Nat gas pipeline transports 20% of what's consumed in US. Purchased 3 nat gas utilities, regulated and defensive cashflow stream. Solid backlog of growth projects. She'd buy here with the pullback. Yield is 6.3%; dividend increased for 30 consecutive years.

A long-time holding and owns a lot of shares. The recent downturn is a result of the short-term traders after earnings. This is one to buy and hold long term, as you collect the dividend. They're unaffected by the price of oil and make their money like a toll as they transport oil.

The mid-streamers should be less sensitive to tariffs - pipelines make money on tolls and service fees. The dividend yield is 6%. It could be range- bound for a while since its valuation is quite high.

Loves the business model. Steady eddy, dependable. Wonderful company for those looking for income. On the face of it tariffs won't affect it, as these are take-or-pay contracts. Essential as the largest oil pipeline in Canada, but one concern is potential company-specific retribution; Line 5, for example, still generates hostility. High valuation, wait for a pullback.