Opinions Paul Gardner, CFA
Enbridge Income Fund HoldingsENF.TOCOMMENTMar 28, 2017
$33.33
Stock price when the opinion was issued
$31.88
As of Nov 10, 2018. Market Open.
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PAST TOP PICK
(A Top Pick Apr 19/18, Up 17%) He's not sure why ENB split the ENF out and ENF traded at a discount to ENB which yielded more and was cheaper than ENB. That's why he chose ENF. ENG bought it in the end.
Ross HealyOwned
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PAST TOP PICK
(A Top Pick Jan 19/18, Up 10%) This is now absorbed into the Enbridge parent company. It was cheaper than the ENB-T at the time.
Ross HealyOwned
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PAST TOP PICK
(A Top Pick Dec 11/17, Up 12%) They'll raise their big dividend. You're buying at the bottom now, but be patient for it to rise.
Bruce MurrayOwned
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PAST TOP PICK
(A Top Pick December 11/17 - Up 8%.) 15% up including the dividend. Given the shortage of capacity the demand for its assets are very strong. It’s going to be consolidated with the main company and this is going to disappear, and you will get a share of Enbridge (ENB).
Bruce MurrayOwned
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COMMENT
COMMENT
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.
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He prefers the income fund. They are tremendously good at return on equity and capital. He does not know of anything specific about why they are down today. It may be the record date being 3 days before today. You would not get the dividend if you bought it today. Today they decided to sell half a million worth of assets to the income fund.