Enbridge Income Fund HoldingsENF.TOCOMMENTMay 08, 2015Stock price when the opinion was issued
As of Nov 10, 2018. Market Open.
Enbridge wants to buy ENF to simplify their corporate structure. In the States, Enbridge offered a small premium, while in Canada, they offered a premium. He suspects the directors of ENF-T are waiting for a higher premium (or that's what he would do). Pays a higher yield than Enbridge Inc. but lacks the dividend growth potential.
Trading right in around its BV, so it is not expensive by any stretch of the imagination. It is also trading pretty much right at its FMV. It is hard for him to get excited about this as an income fund. There are other income funds with a lot more potential.