Enbridge Income Fund HoldingsENF.TOHOLDSep 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.
Thinks you can really bank on a mid-single digit to double digit cash flow and dividend growth. The parent is going to drop additional assets into this, which is where most of the growth is going to come from. The only thing you have to watch out for are equity issues, but he thinks they will be participated in by both retail and institutional investors.