Opinions
Lorne Zeiler
Enbridge Inc.
ENB.PR.D-T
TOP PICK
Feb 07, 2018
$20.750
Stock price when the opinion was issued
oil
gas pipelines
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Preferred shares saw some significant rises on the resets as yield rose with rate increases last year and this. Expects the rate reset in March at 0.5% higher, which means 5.5% on the current price whereas most trade at 4.5-5% coupon. Also get $1 capital appreciation. Looking at 5-10% return on a high-quality, low-risk preferred share.