Opinions
Lorne Zeiler
Enbridge Income Fund Holdings
ENF-T
COMMENT
Apr 20, 2017
$33.690
Stock price when the opinion was issued
oil
gas
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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.
oil
gas
COMMENT
Enbridge (ENB-T) or Enbridge Income Fund (ENF-T) for dividend income? Enbridge is the company that is building the pipeline and the energy services, etc. Once that is completed, it is largely sold to this fund. Pays about a 6.1% dividend yield. The stock is about 8%-10% off its high, and is a reasonable valuation. They are expecting about $9 billion of additional products in the next 3 years and dividend hikes of about 10% a year in the next 2-3 years.